Gold Bullion “Builds Base above $1650”, BRICS Mull Boosting IMF to Help “Behind the Curve” Europe | Gold News

Gold Bullion prices rose to $1679 per ounce Friday morning in London – 0.7% off Wednesday’s high for the week – before easing back, as industrial commodities rallied and stocks edged up, while government bond prices fell.

Silver Bullion climbed to $32.31 per ounce – 3.6% up on last week’s close – before it too fell back.

“Quiet market today in terms of flow,” says one Gold Bullion dealer in Hong Kong.

“Gold for the moment continues to base build above the $1650 level,” adds Swiss precious metals refiner MKS.

“It remains underpinned by strong seasonal physical demand and retail investment interest. In the short-term however, the metal still has to overcome resistance above the $1685 mark before more bullish sentiment manifests itself.”

Heading towards the weekend, Gold Bullion looked set for a 2.1% weekly gain by lunchtime in London. This would be the biggest weekly since the week ended 2 September – although six weeks ago an ounce of Gold Bullion cost over 10% more than it does today.

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via Gold Bullion “Builds Base above $1650”, BRICS Mull Boosting IMF to Help “Behind the Curve” Europe | Gold News.

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