by Jan Skoyles, TheRealAsset.co.uk
Last week was a dampener for those in gold investment as we saw the gold price decline to a two week low following positive outlook data on the global economy.
Despite gold’s poor performance at the end of last week, it has picked itself up wee bit following on from the news that both Russia and Kazakhstan did a little gold investing last month and expanded their gold reserves by 2.1% and 1.7% respectively. Meanwhile Iraq sold some of its gold, reversing a previous trend of net buying.
Concerns over palladium supply were further increased, as the world’s largest producer Russia, stated that their palladium reserves were ‘exhausted’ and are expecting sales this year to be just 3 tonnes. This morning it crept to highs not seen since September 2011.