Market Update

“The festival seasons’s gold rush continues into January as ounce price reaches four week high.” Physical gold demand has been unusually strong for this time of year, with “good buying” from Southeast Asia, according to Standard Bank Plc. The Standard Bank Gold Physical Flow Index signaled demand climbed to the highest since November, the bank wrote in an e- mailed report yesterday. Purchases typically pick up toward the end of the year amid religious festivals and the wedding season in India. Gold reached a four-week high of $1,696.28 an ounce in London on Jan. 17. India, the biggest buyer in… continue reading