Gold conquers Asia and is about to take over the USA

Gold conquers Asia and is about to take over the USA

04.11.2016

If we thought that gold would stop surprising us, we were mistaken. After the impressive revival of gold prices right on the first day of November, the second is no less important.

November, 2nd is accompanied by great and curious news concerning the situation of gold in Asia and the USA. Find the experts' stunning statements on the subject below and discover the current moves of gold.

Gold travels all across the globe, from one end to the other. On November 2nd good reports reach us from Asia and the USA. Gold prices reached $1,290 per ounce, which has been described as “unexpected”, but there are actually several reasons behind it.

The case of Asia

Gold prices are expected to keep on rising in the short term, and it has already begun in Asia, where the overall price per ounce is $1,291. Concretely in Singapore, the price amounts to $1,292.

These results come from the state-owned Sai Gon Jewellery Joint Stock Company (SJC) and Bao Tin Minh Chau Gold and Jewellery Company (BTMC), who have reported a rise in their selling price for gold due to the growing demand triggered since the afternoon of November 1st.

One way or another: no matter who wins the USA elections

The USA presidential elections will undoubtedly affect gold prices, but according to James Steel, chief precious metals analyst at HSBC, gold prices will continue to rise in the year ahead to a greater or lesser degree no matter who wins the USA presidential elections.

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