Gold Rises in Asian Trading-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Market commentary
  • Production data
  • Macroeconomics
  • Zinc
  • Morning comments
  • Futures movement
  • NPI
  • Aluminium
  • Copper
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

Gold Rises in Asian Trading

Data Analysis 01:07:57PM Mar 16, 2010 Source:SMM

SINGAPORE, Mar. 16 -- Gold rose in Asia as the prospects of credit tightening in China triggered a drop in equities, prompting some investors to seek a haven in precious metals.

Immediate-delivery bullion gained as much as 0.3 percent to $1,105.60 an ounce, before trading at $1,104.90 at 2:05 pm in Singapore.

"Gold will be supported as long as uncertainties about the economy remain," said Wu Zhengzheng, an analyst at China International Futures Co (Beijing). "Gold will continue to consolidate in the $1,100 to $1,150 range as investors assess the global recovery."

Silver was down 0.2 percent at $17.0250 an ounce, platinum fell 0.2 percent to $1,603.75 an ounce, and palladium slid 0.5 percent to $460 an ounce.

Bloomberg News

 

Key Words:  gold  gold futures 

Gold Rises in Asian Trading

Data Analysis 01:07:57PM Mar 16, 2010 Source:SMM

SINGAPORE, Mar. 16 -- Gold rose in Asia as the prospects of credit tightening in China triggered a drop in equities, prompting some investors to seek a haven in precious metals.

Immediate-delivery bullion gained as much as 0.3 percent to $1,105.60 an ounce, before trading at $1,104.90 at 2:05 pm in Singapore.

"Gold will be supported as long as uncertainties about the economy remain," said Wu Zhengzheng, an analyst at China International Futures Co (Beijing). "Gold will continue to consolidate in the $1,100 to $1,150 range as investors assess the global recovery."

Silver was down 0.2 percent at $17.0250 an ounce, platinum fell 0.2 percent to $1,603.75 an ounce, and palladium slid 0.5 percent to $460 an ounce.

Bloomberg News

 

Key Words:  gold  gold futures