Gold falls as positive Chinese trade data reduces safe haven demand
Duncan Richardson, News Editor
14 Jan 2016, 4:03 p.m.
After a positive start to 2016 the GOLD price has now fallen for four consecutive days and now trades at £749 per ounce. The price of the yellow metal retreated yesterday after the Chinese announced exports rose in December.
China’s falling stock market and weakening currency had driven investors to safe assets such as gold bullion. The plunging oil price and increased volatility in the markets have raised concerns over the health of the global economy.
The palladium price has fallen to a new 5 year low as Chinese car demand weakened. China accounts for 20% of the global palladium demand.
The gold price is currently trading at £746.93 per ounce, silver £9.55 per ounce, platinum £581.63 per ounce and palladium £337.65 per ounce.