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Gold prices in a rebound

Monday, Jan 25 2016
Gold closed a volatile week at 1098.10 as it spent the week wrestling with the all-important $1100 price but seemed unable to hold above as the bears continue to dominate the marketplace. As expected this morning in the Asian session gold is trading at 1101.00 adding $4.70 as the US dollar eased. 
 
Gold prices will most likely reverse gains as the European markets begin to open. Silver surprised speculators holding tight to its support level at $14 ending the week at 14.010. Platinum was the outperformer this past week climbing to 831.75. There is no Chinese data on the calendar this week, so volatility will be centered elsewhere. Silver added an additional 48 points to trade at 14.105 this morning. 
 
Gold prices have had a difficult time trading and closing above 1100.0 per ounce in 2016 with two of the reasons for the failure are that gold premiums in China have only risen slightly in 2016 while sellers in India has offered discounts amid poor demand. Gold’s repeated failure at these current levels bears watching and the market needs something inflationary to enter into the market to spur demand. If 
 
And central banks continue to buy the precious metal. Watch for central banks from emerging and developing economies; they lack gold and need more of it. The central banks of China and Russia, combined, bought more than 200 tonnes of gold bullion between July and November of 2015.
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