When Asian markets closed on Wednesday 28th the international commodities price for gold stood at around 1288.07 USD/oz. Today has seen fluctuations between 1288 and 1294 USD/oz. The peak of 1295 USD/oz seen on Tuesday 27th was largely down to the sub-optimal data emerging from the US this week, resulting in the USD weakening substantially at around midday on 27th January. The Department of Commerce published its December data for US durable goods orders on Tuesday, with figures showing that the rate fell by 3.4% over the final month in 2014, representing the fourth fall in the last five months, resulting in a subsequent loss of confidence in the dollar.
The majority of the supplies of the recently released Auspicious Matters coins have yet to arrive at Mainland markets, with traders in Shanghai relying heavily on futures deals. Most of the activity is revolving around the complete gold and silver sets at 16100 yuan, but deals have been reached online in the region of 18000 yuan. The four-coin silver sets are seeing futures prices at around 3000 yuan, with a few actuals deals at around 3500 yuan. These coins have a particularly high aesthetic and cultural appeal, and their arrival for 2015 is hotly anticipated.
Trade in the New Year’s Greetings silver coins remains as lively as ever in the region of 440 yuan.