Dealing Desk: Gold Kicks off the New Year with a Definite ShineJan 6, 2017·Rachel Stonier
Goldmoney Wealth clients have been selling both gold and platinum over the past fortnight, with buying taking place in silver and palladium.
“The U.S. dollar retreated from the 14-year high seen prior to the holidays, boosting the gold price from December’s 10-month lows by 5% to touch $1,178,” said Rachel Stonier, dealing manager at Goldmoney Wealth. “Buying in China has supported gold’s January rally, and we could see demand continue through the upcoming Chinese New Year.”
All precious metal prices increased over the past fortnight; palladium posted a double-digit gain of 12.5%, platinum gained 4.8%, silver increased by 4.8%, and gold jumped by 4.3%. The gold to silver ratio decreased to 70.84.
05/01/17 16:00 – Gold: $1,181.62; Silver: $16.68; Platinum: $972; Palladium: $742.81. Gold/Silver Ratio: 70.84.
NOTES TO EDITOR
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