Loading ...somehow I think this is worth noting today–on KITCO
MKS: 39 Tonnes Of Gold Reportedly Bought During Chinese Trading Day
Thursday December 18, 2014 10:42 AM
Gold futures are off their highs and relatively unchanged for the day. As of 10:41 a.m EST, Comex February gold was trading at $1,194.2 an ounce, down about 50 cents, on the day. Analysts from MSK (Switzerland) SA, note that gold’s rally started overnight during the Asian trading session as there was strong demand for physical gold seen in China. They add there were reports that 39 tonnes of gold was bought during the session. However, the rally was not sustainable. “As we are accustomed to seeing recently, interest dropped off during the Chinese break before USD $1,200 was breached in the afternoon session,” they say. The analysts add that silver also pushed higher on the back of renewed gold demand from China.