Gold Rises on Greek Uncertainty, Low Oil Prices

by on
Gold Prices Going Up

Gold rose 1% this morning as global shares fell on concerns over the future of Greece in the euro zone and lower oil prices, while buying from top consumer China picked up ahead of the Lunar New Year.

FREE Download: The Monthly MMI® Report – covering the Precious markets.

Spot gold rose to a session-high of $1,201.30 an ounce in earlier trade and was up 0.9% at $1,199.70 by 1520 GMT. It fell to a 1-month low of $1,168.25 on Friday, before recovering on lower equities.

On Friday, January 2, the day’s biggest mover was US silver, which saw a 3.6% decline to $15.69 per ounce. Indian silver closed 1.8% lower at INR 37,200 ($589.63) per kilogram. The price of Chinese silver fell 1.4% to CNY 3,400 ($547.23) per kilogram. The price of Japanese silver held steady at JPY 620.00 ($5.17) per 10 grams.

* Get the complete prices every day on the MetalMiner IndX℠

US gold bullion finished the day down 1.4% to $1,183 per ounce. The price of Indian gold bullion declined 1.2% to INR 26,935 ($426.93) per 10 grams. Chinese gold bullion prices saw a 0.8% decline to CNY 238.65 ($38.41) per gram. Japanese gold bullion saw little change in its price last Friday at JPY 4,619 ($38.53) per gram.

US platinum bar ended the day at $1,204 per ounce, after the 0.5% drop last Friday. At CNY 258.00 ($41.53) per gram, Chinese platinum bar fell 0.4% last Friday. Japanese platinum bar held its value last Friday at JPY 4,692 ($39.14) per gram.

Friday saw the price of US palladium bar drift down 1.5% to $796.00 per ounce after a couple of stagnant days. Chinese palladium bar saw its price rise 0.6% to CNY 180.00 ($28.97) per gram. The price of Japanese palladium bar remained steady at JPY 3,203 ($26.72) per gram.

{Comments Off on Gold Rises on Greek Uncertainty, Low Oil Prices Comments Off on Gold Rises on Greek Uncertainty, Low Oil Prices}