After trading sideways for numerous sessions, gold bullion breached $1590 an ounce for the first time this month Tuesday morning in London, in what analysts called a “technical” move after gold broke through a key level after remarks from Bundesbank president Jens Weidmann.
As quoted in market news:
On February 18, the first trading after Lunar New Year, volumes on the Shanghai Gold Exchange for its most popular gold contract, The Au9999, set a new record of just over 22 tonnes. Since then, daily Au9999 volumes have been more than double last year’s average.
Get our expert guide to gold investing!
Click here to discover what the experts see coming in 2016 and beyond with our INN Insider's Report (value of $49) for FREE.
Limited time offer. No credit card required.