Gold prices are staying close to the important $5,000 level as global trading activity slows down during the Lunar New Year holiday period. Lower participation from major Asian markets has reduced volatility, keeping prices in a narrow range.
Lunar New Year
Precious Metal was on Track to Post a Weekly Gain
Precious Metal – Spot gold fell 0.2 per cent to $1,560.50 per ounce by 0131 GMT. For the week, prices were on track to gain 0.3 per cent. US gold futures slipped 0.4 per cent to $1,559.20.