n Gold rose to a record level above $1 880 (R13 424) an ounce in New York on Friday, poised for the longest run of weekly gains since April 2007, as escalating concern that the global economy is slowing drove equities lower.
|||n Gold rose to a record level above $1 880 (R13 424) an ounce in New York on Friday, poised for the longest run of weekly gains since April 2007, as escalating concern that the global economy is slowing drove equities lower.
The metal is set for a seventh weekly advance as worse-than-expected US economic data and Europe’s debt crisis boost speculation that growth will falter.
“Lack of confidence in the global economy is pushing people towards gold,” said Tom Pawlicki, a Chicago-based analyst at MF Global Holdings.
Gold for December delivery gained 1.5 percent to $1 849.60 on the Comex at 10.40am in New York on Friday, after touching $1 881.40, a new high. Bullion prices have gained 4.6 percent this week and 12 percent since July.
– Bloomberg
Source: http://www.iol.co.za/gold-set-for-biggest-rally-since-2007-1.1121903
France Japan Canary Islands Madagascar Allen Stanford Consumer affairs
Walang komento:
Mag-post ng isang Komento