- Today’s AM fix was $1,223.50, EUR 984.31 and GBP 779.15 per ounce.
- Yesterday’s AM fix was $1,219.50, EUR 980.94 and GBP 778.24 per ounce.
- Spot gold fell $2.30 or 0.19% to $1,225.10 per ounce yesterday and silver slipped $0.03 or 0.18% to $17.05 per ounce.
- Gold is still on track for a 2.6% weekly gain so far, its strongest since mid-October, as safe haven demand and short covering have given support.
Gold in USD--This Week (Thomson Reuters)
Gold in Singapore ticked marginally lower again overnight prior to seeing slight gains on the open in London as European shares saw falls. Asian shares were mixed but shares in Asia were lower for the week and shares in the U.S. and Europe are also heading for losses this week.
This is supporting gold and it remains just below its highest in more than six weeks. Gold rose this week as equities and the dollar tumbled on global growth concerns and political uncertainty in Greece.
Gold appears to be consolidating above the $1,200/oz level and is supported by robust global demand particularly from China and India and the still uncertain outlook for debt saturated western economies and the United States.