Monthly Precious Metals Report
(Jan 2016)Source: ScotiaMocatta
Gold prices avoided selling off after the Fed raised rates, prices
continued to base build until year-end, but have now set off higher again
on the back of renewed market tensions, mainly over China.
- Safe-haven buying was triggered initially by increased tension
between Saudi Arabia and Iran, but it has been superseded by
weakness in Chinese equities and the yuan.
- Gold prices appear to have built a base around the $1,050/oz
level and prices are attempting an upside break from the base