Gold
held above the lowest level in four months on speculation recent
declines may spur purchases. Palladium reached a 34-month high.
Gold
for immediate delivery traded at $1,252.87 an ounce by 11:50 a.m. in
Singapore from $1,253.23 on June 6, according to Bloomberg generic
pricing. The metal on June 3 dropped to $1,240.73, the lowest since Jan.
31, as signs of a U.S. economic recovery drove the Standard &
Poor��s 500 Index to a record and fueled gains in the dollar.
Bullion
sank 28 percent in 2013 to end a 12-year bull run on speculation the
Federal Reserve would reduce bond purchases used to fuel growth. The
central bank has made four cuts since January and next meets June 17-18.
Data this week may show U.S. retail sales rose after a June 7 report
showed employment exceeding its pre-recession peak.
Gold
for August delivery traded at $1,252.90 an ounce on the Comex in New
York, from $1,252.50 on June 6. Bullion��s 60-day historical volatility
was at the lowest since April 2013.
Source : Bloomberg
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