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Gold trading at 2014 highs

  • Monday, January 20 2014 @ 10:44 AM EST
  • Views: 2,102
Gold We are only 20 days into January but the bounce back in the price of gold since the December 31, 2013 lows continues to show positive signs, as it edges over the $1,250 mark. The insatiable demand from China and the resiliency of the Indian buyer for physical gold are likely playing a role in the move up from recent lows. Bloomberg further reports that;

"...investors weighed signs of increasing physical demand against the outlook for less U.S. stimulus. Platinum rose to the highest since November on prospects for strikes in South Africa.

"Strong demand from China continues to offer support on the downside but in our view, the strength of this buying is unlikely to last much beyond the Lunar New Year” at the end of this month, Barclays Plc wrote in a report today."

Sure this is a nice move up since the recent lows, but there is a very long way to go in order to even consider making up for the drastic losses in 2013. There are going to be further bumps along the way so slow and steady wins the race.

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