Technoglitch
Core Member
Money managers increased their net-long position in gold, silver, platinum and palladium for a third straight week, helping to fuel rallies for the metals amid signs of a flagging US labor market, a drop in German factory orders and a forecast by the International Monetary Fund for slower global expansion.
The price gains last week pared losses for 2015 on mounting expectations that sluggish growth will force the Federal Reserve to hold off on raising interest rates, which can curb the appeal of assets like commodities that don't pay interest.
Gold futures for December delivery rose 1.7 per cent last week, and added 0.8 per cent on Monday to $1,165 an ounce at 8:36 a.m. in New York. Silver climbed 3.6 per cent last week, capping the first consecutive increase since August. Platinum surged 7.9 per cent, the most since October 2011, while palladium added 1.5 per cent for a fifth straight weekly gain. The Bloomberg Commodity Index rose 3.5 per cent, and the MSCI All-Country World Index of equities added 4.4 per cent.
"At some point, interest rates have to go up," Leclerc said in a telephone interview. "Something has to happen. Maybe what the market is saying is that if you look out longer term, gold is at a fair price."
Why bad economic news is good for precious metals like gold, silver - The Economic Times
The price gains last week pared losses for 2015 on mounting expectations that sluggish growth will force the Federal Reserve to hold off on raising interest rates, which can curb the appeal of assets like commodities that don't pay interest.
Gold futures for December delivery rose 1.7 per cent last week, and added 0.8 per cent on Monday to $1,165 an ounce at 8:36 a.m. in New York. Silver climbed 3.6 per cent last week, capping the first consecutive increase since August. Platinum surged 7.9 per cent, the most since October 2011, while palladium added 1.5 per cent for a fifth straight weekly gain. The Bloomberg Commodity Index rose 3.5 per cent, and the MSCI All-Country World Index of equities added 4.4 per cent.
"At some point, interest rates have to go up," Leclerc said in a telephone interview. "Something has to happen. Maybe what the market is saying is that if you look out longer term, gold is at a fair price."
Why bad economic news is good for precious metals like gold, silver - The Economic Times
