Chinese New Year boost
As we approach the Chinese New Year (29th Jan, year of the Snake), strong seasonal buying of gold jewellery for the celebrations typically bolster short term gold sales and therefore the gold price tends to increase over the preceding days. Jewellery demand in China has declined recently, but still close to 400 tonnes for the year.
This trend has been a staple of the peaks in consumption of gold at this time of year, such is the demand in the area.
With the price of gold currently around £2100 ($2640) it's already £500 more per ounce than this time last year with the average gold price for Jan '24 at £1601.90.
Will the higher prices put buyers off, or will they continue to purchase in huge amounts, potentially pushing the price even higher? As always we'll watch the data and supply the insight. If you're interested in investing in gold but don't know where to start, or maybe you think you don't have the funds, we are here to assist you. From as little as 1g Metalor gold bar to Britannia's that are CGT exempt all the way up to 1 kilo of fine gold, we can supply it all. All you need is the knowledge.
This trend has been a staple of the peaks in consumption of gold at this time of year, such is the demand in the area.
With the price of gold currently around £2100 ($2640) it's already £500 more per ounce than this time last year with the average gold price for Jan '24 at £1601.90.
Will the higher prices put buyers off, or will they continue to purchase in huge amounts, potentially pushing the price even higher? As always we'll watch the data and supply the insight. If you're interested in investing in gold but don't know where to start, or maybe you think you don't have the funds, we are here to assist you. From as little as 1g Metalor gold bar to Britannia's that are CGT exempt all the way up to 1 kilo of fine gold, we can supply it all. All you need is the knowledge.