Events in the North Korea lead to run-up of price of gold

06 Jan 2016

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.

Sourсe: MetalTorg.Ru.