COMEX Gold futures spiked to fresh highs near $2970 per ounce as an excellent rally continued for the metal amid worries over global trade warfare and sustained investment demand. The metal pulled back thereafter and currently trades at $2926 per ounce, down 0.28% on the day. World Gold Council or WGC stated yesterday that Gold finished the last month on an all-time-high in all major currencies, with tariff fears, a weaker US dollar and bond yields all contributing. Chinese gold market activity appears to have stayed true to its seasonal pattern and suggests follow-through into February. German elections might put further pressure on the US dollar.

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