price momentum: Adding into the economic uncertainty is soft European data and escalating fears of an exit wreck, they said, referring to the U.K.'s withdrawal from the European Union, according to Market Watch. February gold GCG9, 0.13% rose 1.80, or about 0.1%, to settle at 1,291.30 an ounce, after closing on Friday with a 0.3% weekly advance. Clearly, concerns toward the global economy have been fomented Monday by the first monthly decline in Chinese exports in over two years, analysts at Zaner Precious Metals wrote in a daily note. Futures prices, which touched an intraday high of 1,296.60, again failed to settle at the psychologically significant level at 1,300, which could underscore upward bullish price momentum in bullion. Meanwhile, March silver SIH9, 0.16% added 3 cents, or 0.2%, to end at 15.686 an ounce, following a 0.8% weekly loss last week. Prices for the metal, based on the most-active contracts, tapped an intraday high of 1,300.40 on Jan. 4, but haven't managed to settle at or above 1,300 since June.
(news.financializer.com). As
reported in the news.
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