When the Asian markets opened on Monday 25th August, the international gold price was at 1277.80 USD/oz, maintaining a shaky level, while the USD was trading almost at its strongest for the year against the euro, with 1 euro equaling 1.3199 USD. Following the Jackson Hole meeting of the world’s major central banks, Janet Yellen announced a 2% inflation target, saying that tightening policy too quickly might stifle the recovery of the labour market. News from today is relatively sparse, with investors still focusing their attention on the weekend’s events at Jackson Hole, as well as the ongoing crisis in Ukraine and the Middle East.
As for new precious metal coins in the markets in China, supply is falling well short of demand for the 60th Anniversary of the China Construction Bank ¼ oz gold and 1 oz silver coins, with prices showing clear rises over the last few days. The price has surely been propped up by the shear number of deals being reached. After a surge in value, the 1 oz silver coin fell back a little to rest in the 435-450 yuan range. The Bronze Implements 3rd Series has seen price falls across the range to varying degrees, but not low enough to engender much enthusiasm amongst collectors.
For those interested in 1 oz silver Pandas, currently on the zhao online auction house the latest bid on a 1999 1 oz silver Panda BU coin stands at 1,520 yuan. It seems as though there are three serious bidders on this coin, and with just under 48 hours left to go there is plenty of time left for competitive bidding as this auction draws to a close.