Gold awaits ECB meeting, PGMs near 17-month highs

Comments 0
SummaryChina's gold production rose for a sixth consecutive year and hit a record 403 tonnes in 2012,

so much. It has triggered short-covering. We don't see much buying of platinum here," said a physical dealer in Hong Kong.

"Gold is stuck in a big range of $1,650 to $1,700. We heard that people are selling gold and buying stocks in the euro zone. Europe is more stable after many years of struggle, and people are ready to enter the stock markets."

Premiums for gold bars in Hong Kong eased to $1 to $1.50 an ounce to the spot London price from as high as $1.70 last week as physical activity began to slow down ahead of the long Lunar New Year break.

China's gold production rose for a sixth consecutive year and hit a record 403 tonnes in 2012, keeping its ranking as the world's largest bullion producer, the Shanghai Securities News said on Thursday.

Single Page Format
Ads by Google

More from Commodities

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...