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”.

width=450

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