Gold prices gained Monday on concerns about the physical demand of Syria and a bump in Asian stocks rebounded. Gold for June delivery rose $ 3.80 the COMEX Division of the CME $ 1,468 per ounce. The price of gold traded up $ 1, at $ 1 per ounce and only 463.80 478.40, even though the spot price was slipping 80 cents, the Kitco Gold index. Reports was born late last week, Israel had launched the airstrike was aimed at a suspected weapons to Syria and the site. Israeli jets reportedly launched a new attack on Sunday, targeting the Jamraya Research Centre, which is a secret scientific research center near the capital in Damascus, Syria.
Gold received a very important Syrian news, but the growing uncertainty about the stability of the region supported by enough buyers of precious metal hedge. The physical demand was also supporting gold on Monday as Asian stock markets rebounded, said Phil Streible, a senior commodity broker is a RJO futures. "People are for the liquidation of these ETFs, and they use the money to buy the physical" Streible said on the floor of the Chicago Mercantile Exchange. "You see a real disconnect, I mean the physical prices are strong, and people are looking for the toughness of their money."
Silver prices for July delivery slid 6 cents to $ 23.58, while the US dollar index increased by 0.26% to $ 82.31. Over the weekend, the legendary Investor Warren Buffett, CEO of Berkshire Hathaway (BRK.)(B)), said that investment in gold is not liking him. "It has never interested me. If you go back to 1965, Berkshire was $ 15 and the gold was $ 35, so I could have you bought two shares of Berkshire shares, a little more than two ounces of gold, "Buffett said in his annual shareholder meeting. "And so far two shares of Berkshire is better." Buffett's comments on gold become a little surprise for gold investors, who have been aware of the Oracle of Omaha ' disregard for the yellow metal.
"It is the change in asset," said Streible. "Now the silver on the other hand, Warren Buffett has been known to keep silver to certain degrees. I think that if silver prices the way a bit smaller is something that interested him, or Platinum or copper, but otherwise the gold except for the transaction, and Warren Buffett. "
