The price of gold and silver bounced higher in the first week of the new year, rising by over 1% on safe-haven bids, as tensions between Iran and Saudi Arabia mounted in the wake of the two countries breaking off diplomatic relations, research by Mitsubishi Corporation International has noted. The Precious Metals Weekly Update report revealed that gold had been helped by a bounce in the euro against the dollar, following an advance in Eurozone manufacturing activity to its highest level since April 2014.
