Social Icons

Thứ Sáu, 27 tháng 12, 2013

Gold Seen Falling as Gains in Equities Sap Demand From Investors - Bloomberg

@ a< href="http://sap.rssfeeds.pw">Sap RSS News


Gold fell for the first time in three days in New York on speculation gains in equity markets will curb investor demand for the precious metal.


Gold dropped 28 percent this year, set for its biggest annual drop since 1981, as U.S. equities surged to records. Holdings in gold-backed exchange-traded funds fell 0.1 percent to 1,772.04 metric tons, the lowest since November 2009, according to data compiled by Bloomberg.


“Stronger equity markets, better global growth readings and the absence of inflation, all combine to keep the pressure,” Edward Meir, an analyst at INTL FCStone in New York, wrote in a note. “We suspect we will see weaker prices over the short-term.”


Gold for February delivery fell 0.1 percent to $1,211.50 an ounce by 6:46 a.m. on the Comex in New York. Gold fell 3.1 percent in December, heading for a fourth consecutive monthly decline.


Trading volume was about 40 percent below the 100-day average for this time, data compiled by Bloomberg show.


Silver futures dropped 0.1 percent to $19.905 an ounce, platinum gained 0.6 percent to $1,371.30 an ounce and palladium jumped 0.9 percent to $706.75 an ounce. For this year, silver dropped 34 percent, palladium gained 0.5 percent and platinum declined 11 percent.


To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net


To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net







Subribe Sap Feeds

Không có nhận xét nào:

Đăng nhận xét

 

Sample text

Sample Text

Sample Text