Gold News

Frantic trade at the Fix leaves gold unmoved

Gold shot $5 higher straight after today's London PM fix. But so far for the day it's barely moved in Dollars, Euros, Sterling or Yen.

"The Dollar is pretty much stuck in a tight range," says a metals analyst at UBS. "Unless the dollar moves out of this range, I don't think you are going to get too much incentive for precious metals to move out of the range as well...We are still looking for [gold to] move down towards the $620 level."

What's more, "the holiday season is approaching," as one Hong Kong dealer put it to Reuters. Another dealer reckons gold will trade sideways for the rest of December as traders and fund managers nip away from their desks to go shopping.

Good job they've got record bonuses to spend! Have you seen the price of Christmas gifts lately? Click here for a shocking tale from London...

Adrian Ash

Adrian Ash, BullionVault Gold News

Adrian Ash is director of research at BullionVault, the world-leading physical gold, silver and platinum market for private investors online. Formerly head of editorial at London's top publisher of private-investment advice, he was City correspondent for The Daily Reckoning from 2003 to 2008, and he has now been researching and writing daily analysis of precious metals and the wider financial markets for over 20 years. A frequent guest on BBC radio and television, Adrian is regularly quoted by the Financial Times, MarketWatch and many other respected news outlets, and his views from inside the bullion market have been sought by the Economist magazine, CNBC, Bloomberg, Germany's Handelsblatt and FAZ, plus Italy's Il Sole 24 Ore.

See the full archive of Adrian Ash articles on GoldNews.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals