Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!
(Kitco News) Investor demand is keeping gold from sliding below $1,900 an ounce, but weak physical demand out of Asia is keeping a lid on the precious metal’s gains, according to Commerzbank. "Gold is continuing to lack support from physical gold demand in Asia. Swiss trade data had revealed last week that gold demand in India and China was still rock bottom in September. This is likely to be confirmed by the World Gold Council this week when it publishes the demand trends for the third quarter on Thursday. This will probably prove to be the weakest quarter this year. Gold is still finding support from investment demand, however, which is presumably preventing the price from sliding," writes […]
October 27, 2020 (updated October 27, 2020) Published by StockMan