Gold rally has legs on strong China demand


On uptrend: A pedestrian walks past a window displaying a representation of a gold bar at a bullion broker in Piccadilly, London. Chinese New Year buying and option prices suggest the stars are aligning for the metal to extend its 6.5 gain in the past six weeks. — Reuters

MADRID: Gold’s breakneck rally eased this week, but tailwinds in both physical and paper markets suggest it’s got room to run.

Chinese New Year buying and option prices suggest the stars are aligning for the metal to extend its 6.5% gain in the past six weeks.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , gold , rally , China , Chinese New Year , metal , commodities ,

   

Next In Business News

Cypark GCEO Datuk Daud Ahmad resigns
US producer prices increase more than expected in April
China strongly opposes U.S. tariff hikes, pledging measures to defend rights
Heineken keeps its guard up after posting encouraging 1Q24
Ringgit ends higher against greenback for third straight day ahead of US data
PM Anwar says to cut fuel subsidy at the ‘right time’
BCB buys land in Batu Pahat, Johor for RM83.71mil
MBSB appoints Shahnaz Farouque as new GCFO
PM Anwar says no to second casino in Malaysia
Teo Seng sees better productivity for 2024

Others Also Read