China’s metal imports from Myanmar show trade contortions amid post-coup protest

Physical gold demand across Asia remained subdued this week as prices rallied to a three-and-a-half-month high, keeping retail buyers away from the market.

Cold weather is expected to hit regions across China in the coming week, bringing snow and rain that may cause disruptions at construction sites, one of the biggest consumers of steel.

Increased supply from Indonesia and subdued demand from China are the main drivers behind the downward trend.

The permit was issued to allow the miner to continue exporting copper concentrate while company representatives and government officials go on with the discussions around Freeport’s future operations.

Markets where technology hasn’t substantially shortened the supply cycle and where cost are rising (ie copper) have the greatest long-term upside in prices

Bullion for immediate delivery advanced 0.9 percent to $1,315.08 an ounce at 2:15 p.m. in New York, according to Bloomberg generic pricing.

Even though the system has received criticisms, its 54 participants seem committed to making it work.

The rebound in purchases by India could support global prices, which are already near their highest levels in three months.

Protesters met with authorities but no agreements were reached, so rallies are set to continue.