Gold
futures rose for the first time in three days as signs that money
supplies will increase in Europe and Asia revived investor demand.
Holdings
in the SPDR Gold Trust, the biggest exchange-traded fund backed by the
metal, climbed 0.5 percent last week, the most since August. Money
managers raised their bullish wagers for a third straight week, the
longest expansion since July, government data showed Dec. 5.
While
European Central Bank policy makers refrained from increasing asset
purchases at a meeting last week, President Mario Draghi pledged to
assess the need for more stimulus early next year. China last month
lowered interest rates to spur economic growth, while Japan has expanded
its unprecedented stimulus program.
Gold
futures for February delivery climbed 0.4 percent to settle at
$1,194.90 an ounce at 1:56 p.m. on the Comex in New York. The price
extended gains in electronic trading after the close as the dollar fell
against the euro and U.S. equities dropped as much as 1 percent.
Source : Bloomberg
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