19th January 2015

Gold rose to a four-month high on Friday, with prices up some 4.5% this week, the biggest advance since August 2013. Silver also jumped, up some 4.6%, although both platinum and palladium sat things out. In other markets, we had good snap-backs in base metals and in energy, both of which managed to show signs of more stability. Gold’s rally was impressive in that it came despite surging US equity markets and a higher dollar, telling us that the market is teeing off something else