TeleTrade - Analytics

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    24.02.2016 06:09 Gold climbed on weaker stocks

    Gold climbed to $1,228.40 ( 0.47%) as tumbling equities increased demand for safe-haven assets. Physical demand in top consumers India and China is not impressive; however investor appetite for bullion is quite high as shown by ETF data. Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund are at the highest level in almost a year.

    Gold has been one of the best performers this year with a 16% gain.

    Some analysts say the precious metal is likely to test its recent high of $1,240 some time soon.


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