-- Published: Tuesday, 1 March 2016 | Print | Disqus
By: Mark O'Byrne
Gold bullion rose 10.1% in February adding to the 7% gains seen in January. This means that gold is the best performing asset this year, up 17% so far in 2016. Silver is the next best performing asset with an 8% gain year to date, followed by US Treasuries (30 Year Bond) which have gained 7.8% so far in 2016.
Comparatively, the S&P 500 index is down 4.7% this year, the Dow Jones Industrial Average is down 4.5% and the NASDAQ is down 7.8%. International indices have also seen losses with the FTSE down 2.6%, the DAX down 10.7% and the Nikkei down 13.7% (see table below).
Market Performance in February – Finviz.com
Gold is again acting as a hedge for investors and pension owners exactly when they need a hedge.
The biggest influence going forward for gold is “likely to be risk appetite and concerns about markets and the global economy,” Mark O’Byrne, research director at GoldCore told Marketwatch.
“If stock markets begin to recover and make gains and risk appetite returns, then gold could come under selling pressure,” he said. “However, we believe the volatility seen in the first two months is likely to continue.”
Read more on Marketwatch here
LBMA Gold Prices
01 Mar: USD 1,240.00, EUR 1,141.70 and GBP 886.09 per ounce
29 Feb: USD 1,234.15, EUR 1,131.46 and GBP 890.95 per ounce
26 Feb: USD 1,231.00, EUR 1117.58 and GBP 878.87 per ounce
25 Feb: USD 1,235.40, EUR 1,121.41 and GBP 887.10 per ounce
24 Feb: USD 1,232.25, EUR 1,122.33 and GBP 885.52 per ounce
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-- Published: Tuesday, 1 March 2016 | E-Mail | Print | Source: GoldSeek.com