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Gold tops $2000 once again on China demand

Gold prices in the London bullion market briefly topped $2000 per ounce for the 8th time so far this week Wednesday lunchtime as Western banking stocks fell once again and new data confirmed that China's world-leading appetite for physical gold continues to hold strong in 2023.

Despite firmer US economic data, the US Dollar meantime edged back from yesterday's rally on the currency markets, falling towards the multi-month lows touched in February and March on its trade-weighted index against the rest of the world's major currencies.

That saw gold priced in Euros drop back €20 from Tuesday's peak to trade at €1806, while the UK gold price in Pounds per ounce held above £1600 – a new all-time high when first hit during last month's US and Swiss banking crises.

source: Bullionvault com

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