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Now in Ireland with Free Insured Delivery

Ounce Gram
Gold €1,521.45 €48.916
Silver €22.679 €0.7291

Updated 02:06 IST 17/05/21

£ $

Gold Bullion in High Demand in 2016

February 3rd 2016

Gold’s strong start to the year appears to have largely been driven by increased demand for precious metals in China and Japan, as the struggles of these two major Asian economies have continued into early 2016. The price of gold has increased by around 8.4% (+£60/oz t) since the new year.

Japan’s announcement that it will adopt negative interest rates has raised precious metals' appeal as a more stable alternative asset.

China, meanwhile, has undergone the fastest contraction in its manufacturing sector since August 2012. The underperformance of the Chinese economy, combined with falling gold prices in 2015, saw demand for gold in China rise to record levels after a huge drop in the Shanghai Composite Index in the second half of 2015.

Gold has stood out as a strong performer in early 2016 against the backdrop of low commodity prices and disappointing stock markets, comfortably outperforming equities and other commodities.

The silver price experienced a similar increase in January, rising by around 5.5% (+£0.52/oz t). Platinum, however, has so far fallen by 1.3% (-£8/oz t) in 2016.