On Wednesday 6th of January spot price of gold increased in London on the wave of news about of escalation of tensions at the Middle East and entered thermo-clear bomb test in the North Korea. Price of spot metal increased at the morning European trading by 0,6% till $1083,82 for troy ounce.
Also the worry about Chinese Economy situation distributes at markets in the wake of weak economic data.
According to allegation of Chief of Precious Metals Department of Marex Spectron David Govett, price of gold probably will beat recent record $1083 per ounce. "Stock markets now stay in weak condition, China "gives" bad economic reports, that is why gold should receive here interest decidedly", - indicated Mr.Govett.
As we expect Chinese physical demand on gold should increase on New Year's Eve by the lunar calendar at the begin of February.
Price of spot silver increased by 0,3% till $14 per ounce, while spot platinum went down in value by 0,1% till $885,20 per ounce; price of spot palladium decreased by 0,6% till $529,78 per ounce.