Silver Falls, Gold Rallies as China Retail Investing Jumps, ETFs Sell
GOLD PRICES tried to rally again from 3-month lows in London trade Tuesday as silver struggled and new data showed retail gold investment demand in No.1 consumer nation China surging while Western gold-backed ETF funds continue to shrink. More industrially useful, silver hit a fresh 11-month low at $52.68 per ounce in Asian trade overnight before rallying to reclaim last week-end's level $1.30 higher. Trading around $3997 per troy ounce at this morning's 10:30 auction in London, gold fixed below $4000 for the first time since 20th July.
GOLD PRICES tried to rally again from 3-month lows in London trade Tuesday as silver struggled and new data showed retail gold investment demand in No.1 consumer nation China surging while Western gold-backed ETF funds continue to shrink. More industrially useful, silver hit a fresh 11-month low at $52.68 per ounce in Asian trade overnight before rallying to reclaim last week-end's level $1.30 higher. Trading around $3997 per troy ounce at this morning's 10:30 auction in London, gold fixed below $4000 for the first time since 20th July.
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