Gold traded below a two-month high today, investors weighed the outlook for the U.S. economy on recovery.
Price for gold with immediate delivery slipped to $1,316.11 today, paring advance to 5.3 percent in June, the most since February. The yellow metal that’s seen by some investors as a haven investment has jumped in recent weeks amid geopolitical strife in Iraq and Ukraine and as Fed officials discussed the prospects for U.S. inflation.
Copper in London, which hasn’t retreated in nine previous sessions, traded at $6,934 after rising as far as $6,954, the highest since May 28.
Gold traded below a two-month high today, investors weighed the outlook for the U.S. economy on recovery.
Price for gold with immediate delivery slipped to $1,316.11 today, paring advance to 5.3 percent in June, the most since February. The yellow metal that’s seen by some investors as a haven investment has jumped in recent weeks amid geopolitical strife in Iraq and Ukraine and as Fed officials discussed the prospects for U.S. inflation.
Copper in London, which hasn’t retreated in nine previous sessions, traded at $6,934 after rising as far as $6,954, the highest since May 28.
The global flow of gold from west to east help to make China the world’s largest user, according to the China Gold Association, reports Bloomberg.com.
