Gold Prices Surge Ahead of Eastern Buying Season

Summary: Gold posted an impressive 4.5% rally last week for one of its best performances of the year. One of the factors driving this rally is physical demand, specifically increasing demand from China and the traditional buying season in Asia. In a report from Kitco, gold is seeing a “west-to-east shift.” While western investors have been moving out of the Exchange-Traded Funds (ETFs), much of that outflow is being absorbed by physical demand from India and China. Analysts expect this physical demand to continue and possibly increase due to increased seasonal demand (jewelry). Read more…