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Main » 2016 » January » 4 » Gold starts to increase in 2016 - demand for safe-haven assets grow
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Gold starts to increase in 2016 - demand for safe-haven assets grow
 
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On the first trading day of 2016 the price of gold and silver rose - the tension between Saudi Arabia and Iran stimulates demand for safe-haven assets.

 

 

Gold bullion for immediate delivery rose 0.9 percent to $ 1070.27 an ounce as of 15:31 in Singapore trading near the mark at $ 1069.26 - the maximum increase in the period from December 21. In 2015, the value of the metal dropped to 10 percent, which is the third consecutive annual decline and the longest recession in the period since 2000.


The price of gold, which is generally considered to be a store of value during the political turmoil increased after Saudi Arabia broke off relations with Iran. Recall, the day after Saudi Arabia was executed Shiite preacher in the country's embassy in Tehran was attacked.


Assets exchange gold assets decreased by 2.56 tons to 1463.9 tonnes on Friday - the lowest figure in the last six years, according to data compiled by Bloomberg. In 2015, assets decreased by 8.3 percent, marking the third annual decline in a row.


The spot price of silver rose 0.8 percent to $ 13.9305 an ounce. The cost of palladium fell by 2.7 percent.Platinum has fallen in price by 1.4 percent.


A source

 

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