Tuesday, February 2, 2016

Gold strikes 3-month high on world economy 2 Feb, 2016

Today, Gold edged to a 3-month high as weak global manufacturing activity underscored the challenges for the world wide economy, forcing investors towards secure-haven assets.Click for Commodity tips

Increased volatility in other assets has benefitted gold and it could see more gains as world central banks may be coerced into easing monetary policy further this year to spur growth.

With rates close to zero, the "only option is to move either towards zero or negative rates as the Japanese and selected European countries are already doing in a desperate attempt to force banks to lend", INTL FCStone analyst Edward Meir wrote to clients.

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