Gold Hits 3-month High On Jittery Global Economy:
Fxtpg, Posted on February 02, 2016
brinked up to a three-month high early Tuesday as weak international producing surveys off appetence for risky assets
and pushed investors toward safe immortality.
Spot gold was little changed at $1,128.80 an ounce, just off an initial high
of $1,130.11, its strongest since Nov. 3.
U.S. gold for April delivery
gained 0.2 percent to $1,129.80 an ounce.
Global manufacturing expansion accelerated slightly but remained weak at the start of 2016 as faster growth in developed markets failed to offset a contraction in emerging economies. In China, a gauge of factory activity fell to its lowest since mid-2012.
Gold, typically the asset of choice in times of uncertainty
, has benefited from the volatility in other financial markets
. It posted its best monthly jump in a year in January, and has gained more than 6 percent so far in 2015.
The U.S. economy could suffer, with inflation
remaining too low, if recent volatility in financial markets persists
and signals a slowdown in the global economy.
The Fed's statement last week that it will closely monitor the global economy
and financial markets lifted gold to near $1,130, as it underlined expectations
that U.S. policymakers may take it slowly in raising interest rates this year.
Reflecting growing confidence in gold, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded
fund, rose to 21.9 million ounces on Monday.
United States F D I into India has jumped 500% in the last two years
When Indias commerce minister Nirmala Sitharaman meets US commerce secretary Penny Pritzker in New Delhi on Tuesday (Aug. 30), the duo will have plenty to cheer about.
Quartz, Posted on August 30, 2016
Banks are preparing for an economic nuclear winter
According to CNBC:
The first half of 2016 has been a roller-coaster for financial markets. A combination of uncertainties surrounding the U.K.s vote to leave the European Union and...
CNBC, Posted on August 29, 2016