Gold prices: the puzzle continues

Bullion markets seem to have spent three months trying to work out whether to rise or fall.

This morning, gold changed hands at $1,809.50 an ounce, a rise of 0.59% on the previous close.

But this was a considerable drop on the level of one month ago – on 25 January, the yellow metal traded at $1,855.60.

Gold-silver ratio

Three months ago, the price topped that of today, with gold changing hands at $1,818.10. However, the momentum would seem to remain upwards, given the three-monthly low was seen on 30 November, at $1,771.95 and the three-monthly high of $1,957.20 reached on 6 January.