Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 3 February 2014 [View all]xchrom
(108,903 posts)29. Gold Advances in London as Declining Equity Markets Boost Demand
http://www.bloomberg.com/news/2014-02-03/gold-declines-after-monthly-advance-as-physical-purchases-slow.html
Gold climbed in London, adding to the first monthly advance since August, as declining equity markets boosted demand for haven assets.
Central bank rate increases in Turkey, India and South Africa last week failed to contain Januarys selloff in emerging-market currencies, while a Chinese manufacturing gauge dropped to a six-month low in January. The MSCI All-Country World Index retreated 0.2 percent today.
We suspect that the global equity markets will likely see more turbulence in February, which likely will mean that gold should be fairly resilient for a little while longer, Edward Meir, an analyst at INTL FCStone, wrote in a note dated today.
Bullion for immediate delivery rose 0.2 percent to $1,246.68 an ounce in London at 10:31 a.m. in London. Gold gained 3.2 percent last month as stocks fell 4.1 percent.
Gold climbed in London, adding to the first monthly advance since August, as declining equity markets boosted demand for haven assets.
Central bank rate increases in Turkey, India and South Africa last week failed to contain Januarys selloff in emerging-market currencies, while a Chinese manufacturing gauge dropped to a six-month low in January. The MSCI All-Country World Index retreated 0.2 percent today.
We suspect that the global equity markets will likely see more turbulence in February, which likely will mean that gold should be fairly resilient for a little while longer, Edward Meir, an analyst at INTL FCStone, wrote in a note dated today.
Bullion for immediate delivery rose 0.2 percent to $1,246.68 an ounce in London at 10:31 a.m. in London. Gold gained 3.2 percent last month as stocks fell 4.1 percent.
Edit history
Please sign in to view edit histories.
51 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
But business people prefer to have workers competing with each other for jobs.
tclambert
Feb 2014
#7
But, but according to trickle down economics, it should rain money on all of us below.
tclambert
Feb 2014
#49
Real State of the Union: Income Redistribution to Wealthy Continued Up at Accelerating Pace in 2013
Demeter
Feb 2014
#26
The Middle Class Is Steadily Eroding. Just Ask the Business World OR KRUGMAN, ABOVE
Demeter
Feb 2014
#39
Problems of Eurozone, European Integration Stem From Deeply Unpopular Elite Economic, Social Policy
Demeter
Feb 2014
#35