Gold rose to a one-month high in New York and London as a weaker dollar increased demand for the precious metal as an alternative investment. Platinum climbed to the highest price in 17 months.
"In an environment of low interest rates and recovering global growth, we expect precious metals to continue their upward trend this year," Walter de Wet, a Standard Bank Ltd. analyst in London, said today in a report.
Gold futures for February delivery rose $12.50, or 1.1%, to $1,151.40 an ounce on the New York Mercantile Exchange's Comex unit, the highest settlement price since Dec. 7. In London, gold for immediate delivery advanced $13.45, or 1.2%, to $1,151.70 an ounce at 8:24 p.m. local time.
Source
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment