Wholesale gold bullion prices ended Tuesday morning in London at $1,655 per ounce, regaining ground lost yesterday to climb back to where it started the week, with dealers reporting signs of strong demand from India and China, the world's two biggest gold buying nations.
US dollar gold prices traded above $1,650 an ounce Thursday morning, in line with where they started the week, as the London market reopened following Christmas. Silver meantime hovered either side of $30 an ounce.
US dollar gold prices climbed back above $1,670 an ounce Thursday lunchtime in London, following two days of losses that saw gold in dollars fall to its lowest level since August, while stocks and commodities were little changed on the day and US Treasuries gained.
Following last week’s losses of 0.50% and 2.5% respectively, gold and silver started the final full trading week of the year on a muted note. Thinning participation and year-end book-squaring have begun playing a more significant role.
Spot market gold prices looked to be headed for a third weekly loss in a row Friday lunchtime in London, after failing to break above $1,700 an ounce, while stocks and US Treasuries were little changed on the day.
The spot gold price climbed back above $1,715 an ounce Wednesday morning, around ten dollars up from last week's close, as stocks, commodities and the euro also edged higher and US Treasuries dipped, ahead of today's Federal Reserve policy announcement.