Gold market update for April 1st: On this first day of the 2nd quarter, gold is up slightly and flirting with the $1600 mark. Optimistic news from China that a recovery is in progress, and therefore more demand for commodities, is boosting gold. Geopolitical troubles on the Korean peninsula have not prompted a rush of investors in Asia, but any “hot” conflict between the North and South (Korea) could spark safe-haven buying. Dollar-priced gold being weighed by weakness in the Euro following the crisis in Cyprus. Many investors flocking to the dollar, which puts pressure on gold priced in dollars. Read more…
PRECIOUS – Gold rises on China PMI data; flirts with $1,600
April 1, 2013 by