Gold Prices Gain, Hit 5-Wk. High, On Safe-Haven, Technical Buying Jim Wyckoff Tuesday December 04, 2018 12:55 Kitco NewsShare this article:
(Kitco News) - Gold prices are moderately up and have scored a five-week high in early-afternoon U.S. trading Tuesday. Silver prices are also firmer and hit a three-week high today. The safe-haven metals are getting buying support from a big sell-off in the U.S. stock market today. The gold market is also benefiting from an improved near-term chart posture that is inviting technical buyers. Currently, gold prices are in an uptrend on the daily bar chart. February gold futures were last up $5.40 an ounce at $1,245.00. March Comex silver was up $0.156 at $14.65 an ounce.
Ulaanbaatar /MONTSAME/ As of December 31, 2018 the Bank of Mongolia (BoM) purchased a total of 22 tons of gold. Compared with the same period of the previous year, the amount of purchased gold increased by 9.5 percent.
The ‘National Gold to the Fund of Treasures’ campaign, which successfully ran nationwide between June 4 and October 30, 2018, made a positive contribution to the gold purchase.
It is also considered that the newly established precious metal assay laboratories in Darkhan-Uul and Bayankhongor aimags are giving results.
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