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Yesterday's precious metal surge did not stop; where traders continued demanding them, specifically gold, after news spread about India purchasing 200 metric tons of gold from the international monetary fund. This purchasing process is not behind the spike gold is witnessing in financial markets, but it is occurring through preferential rates or real-time prices; where it equals purchase and demand, thus keeping the equation intact. However, this news managed to lure traders towards the traditional gold, thinking that gold will rise in the future due to India needing gold reserves and thus causing huge demand, which had pushed gold to surge once again; achieving its highest at $1099.00 per ounce before closing at 1091.90 in New York, with a rise by 0.70%.
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