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Investors fleeing China's stock-market turmoil seek safety in gold

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Published : January 11th, 2016
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Category : GoldWire

HONG KONG -- China's stock-market volatility is driving up the price of gold as investors seeking safety pile into the yellow metal, reversing expectations that the price would slump this year in the wake of a strengthening dollar.

Gold is up about 4.3 percent since the beginning of 2016, trading around $1,106.20 a troy ounce Monday, after breaking through a key psychological level of $1,100 an ounce last week.

At the end of 2015, analysts had predicted gold prices would fall below $1,000 an ounce early this year, as the dollar, spurred on by higher U.S. interest rates, gathered strength. Historically, gold has an inverse relation to the dollar as it is priced internationally in the U.S. currency.

However, these expectations have been upended by the recent stock-market tumult. ..

... For the remainder of the report:

http://www.wsj.com/articles/investors-fleeing...arket-turmoi...

 

Data and Statistics for these countries : China | Hong Kong | All
Gold and Silver Prices for these countries : China | Hong Kong | All
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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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