All things GOLD

03 Mar

All things GOLD

After hovering around US $1100 mark , Gold prices are on the rise again rallying to a six week high of $1138/oz.

Many a  geo-political factors are contributing to this rise but nothing greater than the uncertainty in  Euro zone especially regarding Greece’s fiscal bailout. This is why Gold is good deal stronger in Euro ( €830.77), Sterling (£752.82) and Swiss Franc (CHF 1216.16) terms .

Sterling gold especially  was higher as the pound was driven lower by fears that the next UK general election could result in a hung parliament

Any skeptics needing hard data to support a bullish view on Gold should note that India’s gold imports in February appear to be approx. 32.5 tonnes which is 4 times greater than Feb 2009.
 
Rumors originated form Russia last week that China may be looking to pick up the remaining tonneage of Gold on sale from IMF. Now rumors will be rumors!! But we at AQUISS believe that this might be true i.e. China (currently doesn’t have big gold reserves) is indeed looking to buy (more) gold from IMF if they already haven’t done so!



a top-down image of a golden Japanese Koi fish