Precious Metals Rise In Europe

Precious Metals Rise In Europe

Precious metals may settle in the black Tuesday, with stronger EUR vs USD increasing their appeal. Some say physical gold demand has cooled as prices have risen above $1,300, deterring more opportunistic buyers; others say it remains robust, particuarly in China. “Long term, we expect demand to pick up because of the increase of China’s growing middle class, but the momentum in the near term is waning,” says ABN Amro. Measures by India to curb its current-account deficit will also affect gold demand, the bank says, adding: “The market is too optimistic on the outlook for physical gold demand this year.” Spot gold +0.7% at $1,374.75/oz.

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