Gold prices rose from six-week lows Monday morning, hit after new data said speculators cut their bullish betting the fastest in 19 months last week but the giant GLD gold-backed ETF expanded for the first time since New Year, writes Atsuko Whitehouse at BullionVault.
Chinese gold premiums meantime rose again, reaching a 12-month high and suggesting that 2020’s glut of supply versus demand may have been worked through ahead of Lunar New Year 2021.
Spot gold prices for London settlement rose 0.4% to $1836 per ounce after falling in Asian trade to $1810, the lowest since 2nd December.
KEFI Gold & Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.