Monthly Precious Metals Report
(February 2014)Source: ScotiaMocatta
Gold prices recovered well in January, they have encountered resistance around $1,270/oz, but are generally holding up in higher ground.
- The fact prices have not slumped following repeated encounters with resistance, suggests bearish sentiment may be waning.
- Contagion from the tapering of US quantitative easing has led to risk reduction across many markets – so far Gold has not been affected much – perhaps it is regaining its safe-haven attributes?