{"id":19763,"date":"2016-02-25T17:23:04","date_gmt":"2016-02-26T00:23:04","guid":{"rendered":"https:\/\/www.itmtrading.com\/blog\/?p=19763"},"modified":"2016-03-01T15:57:43","modified_gmt":"2016-03-01T22:57:43","slug":"a-mark-bullion-update-88","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/a-mark-bullion-update-88\/","title":{"rendered":"A-Mark Bullion Update"},"content":{"rendered":"

\"A-Mark-Precious-Metals-Inc\"<\/a>US equity weakness at the beginning of yesterday\u00e2\u20ac\u2122s trading session caused gold to shoot up over $30.\u00c2\u00a0 It looked as if it was going to challenge the recent one year high at $1,263 but when equities, oil, and bond yields mounted a surprising rally, gold methodically trended lower as the day\u00e2\u20ac\u2122s session came to a close.\u00c2\u00a0 Today proved to be a relatively dull day for the yellow metal\u00e2\u20ac\u00a6 it held above $1,220, now a double support level, however, it showed weakness later in the trading day and sold off from its intraday highs.<\/p>\n

While ETF demand has been incredibly strong recently, physical demand of gold from India and China has been noticeably weak.\u00c2\u00a0 Gold at major Indian trading centers is trading at a steep discount to global gold prices, indicating lackluster demand.\u00c2\u00a0 A potential cut in the 10% import tariff on bullion at next week\u00e2\u20ac\u2122s budget would help bolster gold demand in the region though.\u00c2\u00a0 Most of China\u00e2\u20ac\u2122s gold imports pass through Hong Kong.\u00c2\u00a0 The release overnight of official custom\u00e2\u20ac\u2122s data illustrated that gold imports from Hong Kong to the mainland in January fell to their lowest levels since 2011.\u00c2\u00a0\u00c2\u00a0 Since demand in December was impressive, January figures may be an outlier.\u00c2\u00a0 It is expected that Chinese demand will recover in the coming months.<\/p>\n","protected":false},"excerpt":{"rendered":"

US equity weakness at the beginning of yesterday\u00e2\u20ac\u2122s trading session caused gold to shoot up over $30.\u00c2\u00a0 It looked as if […]<\/p>\n","protected":false},"author":6,"featured_media":17083,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1207],"tags":[38,50,1422,269],"class_list":["post-19763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-china","tag-etfs","tag-gold-trading","tag-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/19763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/comments?post=19763"}],"version-history":[{"count":2,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/19763\/revisions"}],"predecessor-version":[{"id":19765,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/posts\/19763\/revisions\/19765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media\/17083"}],"wp:attachment":[{"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/media?parent=19763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/categories?post=19763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.itmtrading.com\/blog\/wp-json\/wp\/v2\/tags?post=19763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}