Gold.., the best commodity for now ..?!

XAUUSD.png

 

 

The market situation suggests that gold is one of the beneficiaries of the market asset’s,gold held its ground near a three-month high as losses in global equities and oil fanned haven demand and investors reduced expectations of further U.S. rates rises.

  •  Standard & Poor’s said Friday’s soft fourth-quarter U.S. GDP report indicated that the Fed has more time before it will raise interest rates further this year and may only do so twice, instead of four times.
  •  The chances of a U.S. rate rise in March are 12 percent, down from 51 percent on Jan. 1, according to data compiled by Bloomberg.
  •  Holdings in gold-backed exchange-traded products rose on Tuesday for 12th straight session, the longest run since December 2012.
  •  Spot silver fell 0.1 percent, platinum rose 0.4 percent and palladium climbed 0.7 percent.

 

China’s gold demand will keep expanding as investors seek safe assets and jewelry buying increases, the China Gold Association said.

Consumption in the country that vies with India as the world’s biggest user climbed 3.7 percent to 985.9 metric tons in 2015 from a year earlier, according to group data released on Wednesday. Demand rose as prices declined and investors allocated more wealth to the safety of bullion than to other financial assets, according to the association, which represents jewelers, refiners, banks, brokerages and miners.

China’s net imports of gold from Hong Kong surged 67 percent from a month earlier in December to the highest level in more than two years as a weakening currency spurred haven demand. China’s central bank has also been buying gold monthly.

china

 

M.Magnolia♦

 

 

 

Advertisements