Bloomberg (4/2) - Gold rebounded from a
one-week low on speculation that stimulus by central banks around the
world will be maintained as economic data signaled the global recovery
may be losing momentum. Silver advanced for a second day.
Spot
gold rose as much as 0.5 percent to $1,584.22 an ounce, and traded at
$1,584.11 at 9:15 a.m. in Singapore, snapping a three-day loss. The
metal dropped to $1,564.88 on March 1, the lowest price since Feb. 21,
as a strengthening dollar helped to curb demand.
China’s
services industry expanded at the slowest in five months in February,
according to a government report yesterday, after data last week showed
manufacturing activity slowed to the weakest in five months. In the
U.S., January personal income fell 3.6 percent, the most since January
1993, March 1 data showed.
Gold for April delivery rose as much
as 0.7 percent to $1,583.50 an ounce on the Comex in New York, and was
at $1,583.30, also snapping three days of declines. The dollar was
little changed against a six-currency basket today after gaining on
March 1 to the highest level since Aug. 20.
http://www.bloomberg.com/news/2013-03-04/gold-snaps-three-day-decline-as-data-signals-extended-stimulus.html
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