Gold – Physical gold demand increases in China due to Lunar New Year
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(Kitco News) – Chinese Lunar New Year will be celebrated on Friday, 12 February. Gold
Ronald Leung, chief dealer for Lee Cheong Gold
Gregor Gregersen, founder at Singapore dealer Silver Bullion confirmed this by stating “We’re starting to see premium increases from some refineries and bulk suppliers for gold and silver bars,” pointing to supply tightness.
Today gold futures are testing the trendline on the 4-hour chart. The bulls managed to break the red resistance level and now the next level on the way up is $1876.4/oz. Ahead of the US open demand is looking good as the volume has been supporting the buy-side in the last couple of sessions.
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Gold – Physical gold demand increases in China due to Lunar New Year
