Off over $35 from early all time highs of 1895. Risk returning has dampened enthusiasm after last week’s rise of over $135, despite latest figures from the SPDR Gold trust. ( world’s biggest exchange traded fund backed by bullion) which increased by just under 4 tons to 1290.76 as at the end of last week.
UBS analysts do not see a stampede into Gold as a result of Venezuela’s move to repatriate its gold reserves (announced last week) as the metal is seen as allocated and has not been lent out.
Gold’s trading at 1861.50 after falling briefly to 1858
