Gold Holds Advance as Growth Concern Increases Demand for Haven
Rabu, 05 Februari 2014
3
komentar
Gold held gains to extend the first monthly advance since
August as concern that global growth may be faltering sent equity markets lower
and boosted demand for haven assets.
Bullion for immediate delivery rose as much as 0.2 percent
to $1,259.98 an ounce, and traded at $1,257.04 at 8:48 a.m. in Singapore. Gold
climbed as much as 1.8 percent to $1,266.41 yesterday, the highest level since
Jan. 30, as the MSCI All-Country World Index of equities dropped 1.6 percent.
Data yesterday showed that manufacturing from China to the
U.S. and the U.K. slowed as a selloff in emerging-market stocks and currencies
deepened. Bullion advanced 3.2 percent last month even as the U.S. Federal
Reserve began to withdraw stimulus.
Investors may allocate 2 percent to 10 percent of their
portfolio to gold in 2014, from the current level of 1 percent, as they
diversify holdings, Juan Carlos Artigas, director of investment research at the
World Gold Council, said yesterday.
Gold for April delivery lost 0.2 percent to $1,257.90 on the
Comex, after gaining 1.6 percent yesterday, the most since Jan. 23. Assets in
the SPDR Gold Trust, the biggest exchange-traded product backed by bullion,
were unchanged for a second day yesterday after increasing for two days in the
longest run of gains since December 2012.
Silver increased 0.1 percent to $19.3663 an ounce, rising
for a third day. Palladium was at $702.93 an ounce from $702.50 yesterday, when
prices retreated a 10th day in the longest run of losses since October 2001.
Platinum added 0.2 percent to $1,384.75 an ounce. The world’s
largest platinum producers are reviewing a proposal on wages as negotiators
seek to resolve a dispute with a South African union that has been on strike
since Jan. 23.
(Source: bloomberg)
Baca Selengkapnya ....
