Gold and Silver Report - Thursday 3rd December 2009

03 December 2009 @ 07:27 am EDT

Since touching lows of $1,136 last Friday, gold has rallied strongly, trading as high as $1,225, as appetite simply doesn’t appear to be waning. It should be noted that Hu Xiaolian, a vice governor of the People’s Bank of China, warned that people should be watching out for “bubbles on certain assets”.

Gold & Silver

METAL

LEVEL

CHANGE

GOLD

$1,218.50

-$1.50

SILVER

$19.24

-$0.16

Market News

- UBS Wealth Management said that gold is likely to peak at $1300, and will need a bullish catalyst to move it towards $1500

- Zhang Bingan, a senior official at the China Gold Association, said that his personal view was that China may step up their gold purchases

- Richard O Brien, CEO of Newmont Mining, said that he believed that the recent rally is “going to run out of steam at some point”

Major Economic News

TIME

MARKET DATA

1330

Initial Jobless Claims

E-Newsletters

We value your privacy. Your email address will not be shared.

Home
World
US
Economy
Companies
Tech
Science
Global Markets
Education
Real Estate
Forex
Commodities
Gold & Silver Matters
More Sections
Fashion
Auto
Travel
Health
Law
Entertainment
Sports
Luxury
Art
Books
Tech & Trend
Tools & Features
Topics
Blogs
Market Data
Stock Watch List
Investment Calculator
Financial Glossary
Broker Center
World Business Headlines
Updates
RSS Feeds
IBTimes on Twitter
IBTimes on Facebook
E-Newsletters
Services
Forex Newsfeed
Research
Press Release
About IBTimes
News Licensing
Media Kit
Advertise with Us
About IBTimes
Contact Us
Terms of Service
Privacy Policy