Gold traded above this weeks low in New York as investors weighed the outlook for U.S. stimulus with tension over Ukraine.
Gold
slid 28 percent last year on speculation the Fed would scale back asset
purchases. It rebounded 7.5 percent this year, partly as tension over
Ukraine spurred demand for a haven. Russian President Vladimir Putin
said Russia is testing its army��s combat readiness, ramping up tensions
after pledging a pullback from Ukraine��s border. Pro-Russian
separatists in Ukraine vowed to press ahead with autonomy votes.
Gold
for June delivery added 0.3 percent to $1,292.40 an ounce by 8:16 a.m.
on the Comex in New York. It reached $1,286.60 yesterday, the lowest
since May 2. Futures volume was 16 percent below the average for the
past 100 days for this time of day, data compiled by Bloomberg showed.
Bullion for immediate delivery increased 0.2 percent to $1,292.01 in
London, according to Bloomberg generic pricing.
Copy Source: Bloomberg
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