14.10.2014 - Gold Rises As Worries About World Economy Spur Safety Buying
Gold prices rose to the highest level in nearly four weeks as growth jitters burnished the appeal of relatively safe investments. Investors in recent days have sold stocks and other assets sensitive to the outlook for the global economy, scooping up traditional havens such as Treasurys and the Japanese yen. That shift also has lifted prices of gold, which had fallen out of favor with many money managers in the past two years. The prospect of higher interest rates in the U.S. has weighed on the gold market since early 2013, when Federal Reserve officials first hinted that the central bank would begin dialing back accommodative monetary policies in place since the financial crisis. That dulled the allure of gold, which yields nothing and costs money to hold...............................................Full Article: Source
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