Gold futures advanced for the first time in five sessions as the crisis over Ukraine spurred demand for the metal as a haven.
Bullion
has climbed 7.8 percent this year as the conflict between Russia and
Ukraine increased the appeal of the precious metal as a store of value.
The demand helped to revive gold prices that tumbled 28 percent in 2013,
ending its 12-year rally, partly on the outlook for less stimulus from
the Federal Reserve.
Gold
futures for June delivery rose 0.6 percent to settle at $1,295.80 an
ounce at 1:49 p.m. on the Comex in New York, the biggest gain since May
2. The metal dropped 1.2 percent last week.
Copy Source: Bloomberg
No comments:
Post a Comment