Gold price stagnant on final day of 2015, clings to $1,060/oz
New York (Dec 31) The gold price was stagnant on Thursday morning in thin conditions on the last trading day of 2015. It has been a tumultuous year of trading during which the metal slumped to its lowest in five years following a US interest-rate rise and a strengthening dollar.
- Spot gold was last at $1,061.90/1,063.70 per ounce, unchanged from the previous day’s close and clinging to the $1,060 level.
- “As the Fed’s path to normalisation in it’s monetary policy becomes clearer as we venture into 2016, I think we may see some stabilisation in gold and silver with an eventual move higher into second half of 2016, somewhere in the vicinity of $1,175-1,250,” MKS Capital said.
- In data today, there will only be US unemployment claims and the Chicago PMI of note. The dollar was marginally up on the euro at 1.0926.
- Silver was little changed at $13.85/13.90 per ounce, while platinum at $868/873 was up $3 and palladium increased $6 to $547/552.