Gold was up this week for the second time in three days, with most of the gains occurring in India and China, the world's largest consumers of the precious metal.
Articles Tagged "india"
Gold fell sharply last month, but now investors are taking an interest in physical gold.
Bloomberg reported that Indian gold demand is expected to rebound after the government held status quo with an import tax. As quoted in the market report:
Many are concerned about gold's role in the current risk-on environment. The WGC weighs in.
A Russian gold company the size of Goldcorp could be formed now that Russian billionaire Mikhail Prokhorov has sold a stake in the country's biggest gold miner.
Aurizon has recommended that shareholders reject a $4.6-per-share hostile bid as "inadequate and opportunistic."
Bloomberg reported that Standard Bank Plc has said that the appetite for physical gold from Southeast Asia has been unusually high to date this year.
India is again trying to cut gold demand by hiking duties charged on imports.
The approaching fiscal cliff and promising jobs data out of the United States conspired to pull down gold this week. A report from PwC, however, is bullish on the precious metal in 2013.
Gold prices were stable for most of the week, but faltered on Thursday on European economic and US fiscal worries.