| inbluevt | Date: Monday, 2013/09/30, 8:42 AM | Message # 1 | DMCA |
|
|
Private
Group: Blocked
Messages: 1024
|
Gold edged higher on Monday as a possible US government shutdown prompted safe-haven buying, and the metal was on track to record its best quarter in a year despite a cloudy outlook for US stimulus.
Gold has gained nearly 9% in July-September, boosted by a big short-covering rally, geopolitical tensions in the Middle East and some weak US economic data. The gains bring to an end gold's longest quarterly losing streak since 2001 - the metal fell more than 30% in the three quarters to June on fears of an early end to the US Federal Reserve's bond-buying programme.
"Gold has behaved like a safe-haven currency of late. The market is pricing in a possible government shutdown," said Barnabas Gan, an analyst at OCBC Bank in Singapore.
The likelihood of a US government shutdown increased after the Republican-controlled House of Representatives early on Sunday passed a measure that ties government funding to a one-year delay of President Barack Obama's landmark healthcare restructuring law.
More
Message edited by inbluevt - Monday, 2013/09/30, 8:44 AM |
|
|
| |
Main 
