Market Update (2nd February 2015)

Following a day of trading after the weekend break, the international gold price currently stands at 1272 USD/oz. Midday on the 29th January saw the commodities price for gold reach a low point of the last week, touching 1253 USD/oz. However, the reception of the news on Friday 30th January that the USA’s GDP figures for the fourth quarter of 2014 had fallen somewhat short of expectations resulted in a strong recovery of the gold price over just a few hours. Markets closed on Friday evening at 1282.58 USD/oz. Since then, the gold price has trickled downward a little, reaching the current 1272 USD/oz.

The ¼ oz New Year’s Greeting silver coin is enjoying high market prices of between 410 and 435 yuan, with the higher prices being paid for the coins sold with their cards. This small yet significant coin seems to have grabbed the majority of the market’s attention at this early stage in 2015.

The Auspicious Matters 8-coin sets also seem to have turned a lot of heads in their direction. In the actuals market for the four gold and four silver coins together, it would not be uncommon to see prices of 16800 yuan; while prices of 16000 yuan are being agreed on for futures deals. The aesthetic appeal and craftsmanship of the heart-shaped gold and silver sets seems to have drawn in the buyers, as opening prices online for these two-coin sets stand at around 5000 yuan.