Feb 18, 2013
Commodities Brief – Precious metals rally as China returns to the fold
Following a dismal stretch last week, Gold prices recovered off of from a six-month low on Monday, as traders in Asia returned to the physical market as China reopened after the Lunar New Year holiday. Amidst pressure from the rising USD against the euro after worse than expected growth data, Gold prices proved to be a one-way affair, shedding several percentage points. Indeed, China`s absence from the physical market for the Lunar New Year public holiday also pressured gold last week. As of European trading, the yellow metal has fared better, as prices were capped at 1617 region, before waning again to USD $1614.73, up +$5.93 at the time of writing.
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