Gold gains to come?

  • Today’s AM fix was USD 1,305.00, EUR 971.20 and GBP 768.55 per ounce.
  • Friday’s AM fix was USD 1,292.50, EUR 961.18 and GBP 761.64 per ounce.

Gold climbed $15.00 or 1.16% Friday to $1,307.40/oz and silver shot up $0.37 or 1.82% to $20.74/oz. Gold and silver were both down for the week - 0.24% and 0.53% respectively.

Silver for immediate delivery fell 0.4% to $20.68 an ounce in London this morning. Platinum added 0.4% to $1,485 an ounce. Palladium gained another 0.5% to $885.05 an ounce and is a whisker away from new 13 year nominal highs.

Gold and silver were marginally lower last week but both spiked towards the close on Friday which could be a harbinger for further price gains this week. Gold jumped $15.80 to as high as $1,308.20 in the last minutes of trade and silver surged to as high as $20.727.

Gold is marginally lower in London this morning after gold in Singapore ticked lower overnight. Futures trading volume surged from last week’s turgid trading and were 72% above the average for the past 100 days for this time of day, according to Bloomberg data.
 


Silver in U.S. Dollars - 50, 100, 200 Simple Moving Averages (Thomson Reuters)

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