The surge in the gold price last week has not resulted in increased buying of the precious metal by the world's two biggest gold clients: China and India.
The world’s most populous country has been the primary engine of economic growth for decades, but recently investor optimism around China has diminished significantly.
Iron ore prices, traditionally influenced primarily by demand and supply factors in the physical market, are showing signs of becoming “financialised” as paper trading increasingly plays a part in driving prices.