Tue, Dec 23, 2014
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Bullion/Gold, Commentaries more

Gold forecasts for China drive prices higher

Posted on 03 April 2014

Gold rose, ending the longest slump in 19 weeks, on speculation that demand for bars and jewelry will increase in China after futures touched a seven-week low. ANZ Banking Group said Wednesday its gauge of demand increased late last month in China, the world’s biggest buyer. Iraq’s central bank plans to process 11 metric tons for public sale, and will import bars to sell to goldsmiths.
The outlook for reduced U.S. monetary stimulus and higher borrowing costs helped push futures Tuesday to the lowest since Feb. 11. “People are betting on increased physical buying and bargain hunting at these levels,” said Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago. “This may be temporary, as prices could head lower because of expectations of higher interest rates.”………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 38584 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
S M T W T F S
« Nov    
 123456
78910111213
14151617181920
21222324252627
28293031