Today’s AM fix was USD 1,246.50, EUR 922.58 and GBP 762.39 per ounce.
Friday’s AM fix was USD 1,246.50, EUR 920.54 and GBP 757.34 per ounce.
Gold rose $1.90 or 0.15% Friday to $1,244.90/oz. Silver fell $0.04 or
0.21% to $19.16/oz. Gold and silver were down 1.85% and 3.97% for the
week.
Gold is marginally lower in all major currencies today except
sterling which has weakened due to concerns that the Bank of England
will continue its ultra loose monetary policies. Gold ticked higher in
Asia prior to price falls.
Gold in U.S. Dollars – (Bloomberg)
Gold rose 3.2% in January, its first monthly advance in five, as
concerns about emerging markets and the Fed’s tapering led to declines
in stock markets and safe haven buying.
Australia’s Perth Mint, which refines most of the bullion from the
world’s second-biggest producer, joined the U.S. Mint in reporting gold
demand climbed in January. Sales of coins and the increasingly popular
minted gold bars at the Perth Mint increased 10% to 64,818 ounces last
month from 58,944 ounces in December. The mint sold 912,388 ounces of
silver compared with 845,941 ounces in December, it said.
Sales of gold coins by the U.S. Mint rose 63% in January to the
highest since April. Sales climbed to 91,500 ounces from 56,000 ounces
in December, while sales of silver coins almost tripled to 4.78 million
ounces, the highest in a year, the data showed.
Part of the reason for the surge in demand is due to dealers
restocking inventories and due to collector demand for the newly minted
2014 coins.
Austria’s Muenze Oesterreich AG is running 24 hours a day to meet a
surge in demand on behalf of investors – particularly in Germany which
continues to be Europe’s largest buyer of gold.
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