Gold
held above this week��s low, heading for a second weekly drop in
London, as investors weighed the Ukraine standoff with the outlook for
monetary stimulus.
Gold
slid 28 percent last year on expectations that the Federal Reserve
would pare its bond-buying program. Fed Chair Janet Yellen said this
week that strength in the economy made measured reductions in asset
purchases appropriate, even as stimulus is still needed. The dollar
rebounded from the lowest level since 2011 against the euro after
European Central Bank President Mario Draghi yesterday said the bank may
ease in June.
Bullion
for immediate delivery added 0.1 percent to $1,291.06 an ounce by 9:31
a.m. in London, according to Bloomberg generic pricing. It��s down 0.7
percent this week after reaching $1,285.22 yesterday, the lowest since
May 2. Gold for June delivery rose 0.3 percent to $1,291 on the Comex in
New York. Futures trading volume was 51 percent below the average for
the past 100 days for this time of day, data compiled by Bloomberg
showed.
Copy Source: Bloomberg
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