UNITED KINGDOM January 25 2016 10:30 PM
LONDON (Scrap Register): Gold traders will be watching to see if the volatility in Chinese financial markets so far this year continues, said Barclays in a snippet.
The metal has staged a rally in the early weeks of 2016, with global equities trending softer, much of it blamed on developments in China.
As last week wound down, signs of stabilization in China reduced the safe-haven demand, the British bank added.
“There was limited macro and fundamentals news, with the market generally trading within a $20 an ounce range of $1,075-1,095 an ounce,” said analysts at Barclays.
Barclays expects the gold price to resume its gradual decline if China volatilities remain contained.