The gold price has resumed its movement on Monday and the market is waiting for the development of economic data, the last of this year. A positive development for gold investors would be a start to the new year above the $1800 mark.
Demand for gold and silver in India is expected to recover in the second half of 2021 and will continue to recover in 2022. One of the main factors why the gold market in India has been late in recovering is that many Indian weddings have been postponed to 2021 and gold is one of the most popular jewelry items in Indian wedding ceremonies.
Even though this has been mentioned many times, those interested in the gold market must not forget the real case for rising gold prices and that is negative real interest rates. When people are worried about their future purchasing power, gold and silver are in demand, because these are assets that have been used for thousands of years.
Gold futures opened this morning at $1,810 per ounce, up $4.
Silver futures contracts opened in the morning at $22.90 an ounce is up 1 cent.
The Spot Market is Open
Monday, December 27, 2021