The Phaserl


Daily Nugget – US gold coin sells for $4.5 million

by Jan Skoyles,

The gold price reached its highest in a month earlier today thanks to a relatively weak US dollar, following the surprisingly low US jobs data on Friday. Silver, platinum and palladium also climbed in price.

As prices rallied to $1,250.06/oz physical demand in China reportedly fell back slightly. Premiums on the Shanghai Gold Exchange fell overnight from Friday’s $18 to $17 this morning.

Outflows in the gold SPDR Trust have slowed, this has also helped to support prices.

Also last week, for the second week in a row, data showed that net long positions in gold futures and options held by money managers and hedge funds, were increased.

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