Pacific Group Latest Hedge Fund Buying Physical Gold - Converting 1/3 Assets To Gold
January 21, 2013 - 10:58am
Today’s AM fix was USD 1,688.00, EUR 1,269.08, and GBP 1063.58 per ounce.Friday’s AM fix was USD 1,690.00, EUR 1,265.82and GBP 1,060.49 per ounce. Gold was up 1.26% for the week and silver was up 4.60%. Gold fell $2.80 or 0.17% in New York on Friday and closed at $1,684.10/oz. Silver surged to a high of $32.11 before it also edged off, but it still finished with a gain of 0.47%. Gold inched up on Monday on concerns about currency debasement and an even looser monetary policies to be announced from the Bank of Japan. BOJ is examining an open-ended pledge to buy assets until a 2% inflation target is near which is pushing the yen to a 2 ½ year low. Gold bullion on the TOCOM soared to match a multi year record of 4,911 yen a gram before giving up gains. Physical gold demand is also ramping up in Asia with the upcoming Lunar New Year festivities just around the corner on February ...
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