Gold was last trading at $1264 per oz in the Tuesday afternoon session while silver was down to $15.40 per oz. Gold is generally valued above $1220 per oz in the past two weeks and we sees moderate trading volume in the retail level. With the ongoing negative yields on bonds and negative interest rates talk in the market, investors and traders are protecting themselves against “risk” by buying into safe haven assets. Descending US dollar strength is also another contributing factor for the ascending trend in gold price. Interestingly, we are seeing split opinion in the direction of bullion prices in many commentaries but we are affirmative that sales are going strong at our retail location. We continue to focus in all economic data coming from China, the second largest economy, to plan our buying and selling strategy. In the forex market, we are seeing a much lower USDCAD exchange rate at 1.3386 which reached our near term target rate to resume our long position in US dollar. However, the market is very thin and we do not see any strong supportive data to justify strong US dollar in the near term. 

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