International Gold Buying On The Rise
As Global Equity markets continue to move lower, Gold buying in Asia, Middle-East and Europe is increasing, the price moving to above $1,285 per ounce. January has an excellent history of showing higher Gold prices, last year Gold having hit its highest price in January. At 11am PT today, Gold is trading at $1,282 per ounce, up $1.50 on good volume.
Silver is following Gold higher, reaching a high of $15.59 per ounce this morning. Silver found additional demand from concerns about the Purchasing Manager Index (PMI) from China. The PMI was released overnight, showing December factory activity contracted for the first time in 19 months. At 11am PT today, Silver is up $0.15 per ounce, trading at $15.50 on excellent volume.