Live Rates Powered By:
AUDUSD
NZDUSD
EURUSD
GBPUSD
USDJPY
USDCAD

GOLD FALLS AS CHINA RESUMES TRADING, EQUITIES REBOUND
2016-02-15 17:58:21

GOLD FALLS AS CHINA RESUMES TRADING, EQUITIES REBOUND

 0  0  0 Google+0
Feb 15, 2016 - 10:14 AM GMT
by 

Gold prices fell on Monday morning in London on profit-taking after China returned from its week-long holiday and global equities rebounded.

- Gold had surged to a one year-high of $1,263.30 on Thursday last week on strong risk-off sentiment while global equity and commodity markets plunged on concerns that the world economy could be falling into recession.

- The spot gold price was last at $1,208.80/1,209.10 per ounce, down $28.80 on Friday’s close. Trade has ranged from $1,207.80 to $1,234.80 so far.

- “Gold’s rapid ascent to the $1,260 highs warrants some caution in the near term. The market may have done too much, too soon. However, that many market participants have missed the move thus far suggests that there may be appetite to buy dips. Lingering macro uncertainty is also likely to make shorts hesitant. We therefore expect any retracement to be relatively shallow and brief,” UBS analyst Joni Teves said.

- Silver was last lower at $15.28/15.30 per ounce, platinum at $934/939 was down $16 and palladium fell $1.50 to $516/521.

- The US is closed for the Presidents Day holiday today.

 

(Editing by Mark Shaw)

- See more at: http://www.bulliondesk.com/gold-news/bullion-latest-gold-falls-as-china-resumes-trading-equities-rebound-108963/#sthash.mcxtsAcP.dpuf





TIME
Sydney Tokyo Ha Noi HongKong LonDon NewYork
Prices By NTGOLD
We Sell We Buy
37.5g ABC Luong Bar
5,333.504,913.50
1oz ABC Bullion Cast Bar
4,426.804,026.80
100g ABC Bullion Bar
14,205.6012,905.60
1kg ABC Bullion Silver
1,728.401,378.40
Slideshow
 
© 2011 Copyright By Ngoc Thanh NTGold. All Rights Reserved.
Powered by: Ngoc Thanh NTGold
 
  • Online: 445
  • Today: 12113
  • Total: 4641033