Signs of economic stagnation in Europe and India plan to limit imports of gold could encourage investors to sell their holdings of the precious metal.
New York (Reuters). - Gold rose nearly 1%, because the economic optimism firmly pushed shares on Wall Street after U.S. authorities reached a last-minute deal to avoid large tax hikes and spending cuts that threatened to push the economy into another recession.
Group metals silver and platinum rose sharply after Congress approved an agreement to avoid immediate austerity measures, to raise taxes on the wealthiest and preserve certain benefits.
However, the slug seemed to lose strength to extend gains in the first trading day of 2013, analysts said. Signs of economic stagnation in Europe and India plan to limit imports of gold could encourage investors to sell their holdings.
Gold rose 0.8%, to $ 1687.60 an ounce, off a two-week high of $ 1694.70 seen earlier in the session.
Gold rose around 7% in 2012, the twelfth year in a row on the rise. However, reported a weak fourth quarter to end the year fell 5.4%, its worst quarterly performance since the period July to September 2008. Silver climbed 2.4%, to U.S. $ 31.01 an ounce.
Uncertainty remained after budget deal in America. The spending cuts of U.S. $ 109 000 million in military and domestic programs only were adjourned for two months and further discussions on the debt ceiling looming U.S. within that time.
LEAVE YOUR COMMENTS ON THE COMMENT AREA BELOW
Saludos
Cesar Moran - Moderator of this Blog
No hay comentarios:
Publicar un comentario