China’s Gold Buying Adds Support Above $4,400

Gold has just crossed a threshold that draws all attention. Above 4,400 dollars an ounce, the precious metal benefits from a particularly favorable cocktail: weakness in the US employment market, anticipation of a more flexible monetary policy, and continued purchases from China. Added to these factors are geopolitical tensions and the rise in oil prices, which revive inflation fears. Faced with economic and monetary uncertainties, investors an…