Precious metals: gold prices increases

The gold price is in the ascendant and rising this morning on $ 1,218 per troy ounce. Calculated in euros, reached yesterday, briefly, with just under EUR 950 per troy ounce, the highest level in four weeks. From its low in late July that gold has gained around 6% and more than 50 EUR. In the wake of the failed mixed economic data, which were last published, the investor appetite for safer investment has revived significantly. The world's largest gold ETF, SPDR Gold Trust, reported yesterday for the second day in a row inflows. The stocks have risen by 0.9 tonnes to just under 1287 tonnes. We see further upside potential for gold.


The protests in southwestern Bolivia wide against the government out and grab on to other mines. After mid-week had already stopped production in the San Cristobal mine, one of the world's biggest mines for zinc, lead and silver, came yesterday also work in the San Bartolome silver mine to a standstill. Bolivia has produced 1326 tons of silver last year and had a market share of 6% of the world's fifth largest silver producer. If the protests continue for longer, this could affect the global mine supply and ultimately contribute to a rising silver price.