Today’s AM fix was USD 1,692.50, EUR 1,268.17, and GBP 1,068.36 per ounce. Yesterday’s AM fix was USD 1,688.00, EUR 1,269.08, and GBP 1,063.58 per ounce.
Silver is trading at $31.97/oz, €24.06/oz and £20.23/oz. Platinum is trading at $1,690.50/oz, palladium at $717.00/oz and rhodium at $1,200/oz.
Yesterday gold closed flat in New York at $1,687/oz and silver closed at $31.93.
Gold edged up and Tokyo gold hit a record multiyear high after the Bank of Japan announced a bold, some would say reckless, $117 billion ‘stimulus’ program as expected. The BOJ package included doubling its inflation target to 2% and making an open-ended commitment to asset purchases from next year.
This open ended policy surprised some that expected a small rise in the BOJ's $1.1 trillion asset-buying and lending program.
On Wednesday, there is a scheduled vote in the U.S. Congress proposed by Republicans on the U.S. borrowing limit.
India increased its import tax on gold ores and dore bars from 2% to 5%, following a tax hike on bullion yesterday, as the government tries to decrease its spiraling current account deficit.
Global head of commodities research at Standard Chartered, said at a briefing in Seoul today that Standard Chartered is bullish on gold. They believe loose monetary policies, retail demand by India and China and central bank buying will drive prices higher.