GOLD WEBCAST – Gold price stagnant around $1,200/oz

Otmane El Rhazi from The Bullion Desk.

It’s been a fairly stagnant week overall for the precious metals market, with gold down about half a percent for the week and still fluctuating around the $1,200 mark. Physical demand ahead of the Hindu festival of Akshaya Tritiya on Tuesday is likely to add support, with April 21 set to be one of the most auspicious days in the Indian calendar to gift gold, so far things look fairly normal – though the huge import figu The PGMs have also been performing modestly, with platinum up at $1,160 and palladium higher at $780. The gains comes following news that Eskom, the state-owned power producer that is responsible for 95 percent of South Africa’s electricity, has rationed power supply for fifth day in a row on Thursday.

The post GOLD WEBCAST – Gold price stagnant around $1,200/oz appeared first on The Bullion Desk.