The Phaserl


Daily Nugget – California gold rush is back

by Jan Skoyles,

Gold has been trading near a six-week low this morning and is set for its first monthly decline since the beginning of the year. On Friday the gold price fell to $1,285.34, a six-week low.

Since mid-March gold has touched a six-month high to a now six-week low. This recent volatility in the gold price has apparently put off Asian investors. According to Bloomberg the price of gold for immediate delivery on the Shanghai Gold Exchange is at its cheapest, compared to London since 2012; ‘$1.40 an ounce below the price in London on a monthly average basis.’

This week all eyes will be on the non-farm payrolls data, released at the end of the week. February’s number was below predicted numbers, with much of this blamed on the weather. Recent economic data has been strong, with many economists believing that the economy has begun to recover from the severe weather conditions seen at the beginning of the year.

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