Gold recovers from near 4 month slump as dollar slips
However, analysts said the precious yellow metal is remained under pressure as the US fiscal talks are nearing a positive conclusion, which is sure to dent it's safe haven appeal.
Gold recovered from an almost four month slump in Asian trade Wednesday as the dollar weakened.
Spot gold was seen trading at $1675.42 an ounce at 12.00 noon Singapore time while US gold for February delivery was at $1676.77 an ounce.
However, analysts said the precious yellow metal is remained under pressure as the US fiscal talks are nearing a positive conclusion, which is sure to dent it's safe haven appeal.
They added that some investors have shifted into equities as optimism a deal could be reached soon to avert the fiscal cliff of tax hikes and spending cuts that threaten to plunge the United States into recession fuelled an appetite for riskier assets.
On Tuesday, gold futures finished with a sharp loss , settling at the lowest since Aug. 30, as investors favored U.S. equities amid expectations that negotiations in Washington will eventually result in a resolution to the fiscal cliff.
A fall in the nation's current-account deficit and a rise in home-builder confidence also helped dull gold's safe-haven investment appeal.
February gold settled at $1,670.70 an ounce on the Comex division of the New York Mercantile Exchange, down $27.50, or 1.6%
Sumber : Google
No comments:
Post a Comment