Precious metals are trading mixed early in Asian trade, with Gold edging lower. The Gold closed higher Wednesday, despite a stronger USD, as investors were attracted by its safe-harbor allure following reports of European Union countries agreeing in principle to launch an oil embargo on Iran. Iranian officials have threatened to block a key oil shipping choke point at the mouth of the Persian Gulf if sanctions are placed on its oil industry. Comex Gold for February delivery closed up 0.8% at $1,612.70/oz, the highest settlement in two weeks. Spot Gold is at $1,610.10/oz, down $2.40 from New York’s informal close, silver is at $29.23/oz, down 3 cents, and palladium is at $647/oz, down $2. Platinum is at $1,418/oz, up $1.
EasyForexNews Research Team