Gold Price Appreciation Likely on Eurozone Debt Concerns
Mark O’Byrne submits: Gold: Gold and silver rose yesterday but have experienced a pullback overnight (gold from $1,128.00/oz to $1,117.50/oz). Gold is currently trading at $1,118.00/oz and in euro and GBP terms, gold is trading at €768/oz and £688/oz respectively.Healthy premiums for gold show that there is robust physical demand in Vietnam and India at these price levels. The Indian central bank bought 200 metric tonnes (purchases occurred over two weeks prior to October 30th) when gold was trading between $1,030/oz and $1,070/oz and this could mean that gold will see sustained ‘dip buying’ above $1,100/oz. »
This entry was posted on Thursday, December 17th, 2009 at 10:24 am and is filed under Silver Dealers . You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.