Gold was steady in early Asian trade. "Buying activity by China gold ETFs continues to pick up," Daniel Ghali of TD Securities said in a research note.
China gold ETFs added 233,000 ounces of nominal gold over the past week, the senior commodity strategist said.
Sentiment in China for the precious metal may also have been supported by Chinese life insurance companies' membership to the Shanghai Gold Exchange, which officially allows them to buy gold.
Until this News Released Gold Price is at $ 3,120
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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