China's gold imports from Hong Kong double to new record in 2012

Today’s AM fix was USD 1,678.00, EUR 1,240.02, and GBP 1,063.57 per ounce. Yesterday’s AM fix was USD 1,664.25, EUR 1,224.52, and GBP 1,057.47 per ounce.

Silver is trading at $31.94/oz, €23.65/oz and £20.34/oz. Platinum is trading at $1,707.50/oz, palladium at $758.00/oz and rhodium at $1,200/oz.


Cross Currency Table – (Bloomberg)

Gold climbed $5.70 or 0.34% in New York yesterday and closed at $1,673.50/oz. Silver inched up to $31.86 in Asia, then it fell back to $31.38, and then rose to a high of $31.91, but eased off in afternoon trade and finished with a loss of 0.35%.

Gold rose to a new record nominal high on the TOCOM at 0.156 million yen per ounce. The resignation of Bank of Japan Governor Shirakawa on March 19 is pressuring the yen as is increased tensions in the Pacific between China and Japan —  Japan accused China of targeting a Japanese naval vessel and helicopter.


Currency Ranked Returns - Chinese Yuan in G10 Currencies and Gold Since 2003

Platinum and palladium edged off multi-month highs today as profit taking set in after recent gains.

Those who look through a rose-colored glass of mixed economic data see a recovering global economy and this perspective and supply issues may have helped propel palladium and platinum to outperform gold and silver so far this year.

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