Gold Futures Raid Leads To ‘Extraordinary’ Demand For Bullion Globally
by Mark O’Byrne
GoldCore
Today’s AM fix was USD 1,414.00, EUR 1,080.46 and GBP 920.63 per ounce. Yesterday’s AM fix was USD 1,397.00, EUR 1,070.17 and GBP 917.09 per ounce.
Gold rose $14.80 or 1.08% yesterday to $1,388.00/oz and silver ended with a loss of 0.26%.
Gold extended gains above $1,400 an ounce on signs that jewelers, investors and store of value buyers of gold are taking advantage of the biggest slump in prices in three decades.
Global demand for physical is very clearly seen in rising premiums being seen internationally. The drop in prices ignited a spate of buying in gold coins and bars, sending premiums for gold bars to multi-month highs throughout Asia. Demand intensifed overnight as prices rose over $1,400/oz.
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2013-04-19 06:30:12
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