Gold prices TWO-month high at $ 1,950 an ounce on Tuesday amid a drop of European stocks, followed by the decline in New York and Asia as winter wave of new virus strain worsens.
The price of gold rose above $ 1,950 for the first time since the news of the Pfizer vaccine on November 9, resulting in gold being crushed by $100 an ounce, and bullion prices are now up 2.5% so far in the new year. The metal has risen in each of the last nine months of January, gaining 3.5% on average.
Ahead of the corona crisis last year, gold prices in China, the number one mining and consumer country of minerals, showed the average premium of $9 an ounce over London prices.
Unlike March 2020, when the first close in the United Kingdom saw gold prices rise by $100 above London bars on the assumption that stocks would not reach the United States, next month's future's will not exceed $4 an ounce over London.
New data showed that imports to India, the second largest consumer of gold, fell last year to their lowest levels since the global financial crises of 2008/09.
It's worth mentioning that gold hit its highest level in history to $2050 an ounce last August following the "Great Lockdown".
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