Gold
posted the longest slump in more than four months as U.S. stocks rose
to a record, crimping demand for the precious metal as a haven asset.
The
Standard & Poor™s 500 Index of shares has climbed 20 percent in the
past year, reaching an all-time high today. U.S. manufacturing expanded
at a faster pace in March, a private report showed. German Chancellor
Angela Merkel spoke to Russian President Vladimir Putin yesterday and
said he had ordered a partial withdrawal of troops from Ukraine™s
eastern border.
Gold
futures for June delivery slipped 0.3 percent to settle at $1,280 an
ounce at 1:47 p.m. on the Comex in New York, after touching $1,277.40,
the lowest since Feb. 11. The metal fell for a fifth session, the
longest slide since Nov. 13.
Prices
slumped 2.9 percent in March, the first loss since December. Federal
Reserve Chair Janet Yellen said last month the central bank™s
debt-buying program may end this year with interest rates starting to
rise in early 2015. Bullion rose 70 percent from December 2008 to June
2011 as the central bank pumped more than $2 trillion into the financial
system and cut interest rates to a record in a bid to boost the
economy.
Source : Bloomberg
0 komentar :
Post a Comment