Joe Deaux
Ranjeetha Pakiam
October 14, 2015 — 2:50 PM CDT
Updated on October 14, 2015 — 8:52 PM CDT Bloomberg
http://www.bloomberg.com/news/articles/2015-10-14/gold-comes-back-to-life-as-prices-top-200-day-moving-averageGold at Over 3-Month High on Bets Fed To Delay Rate Hike
Thomson Reuters | Last Updated: October 15, 2015 07:27 (IST)
Gold is a non-yielding asset and tends to benefit from ultra-low rates.
It also benefited as the dollar on Wednesday slumped to its lowest since late August against a basket of major currencies. A weaker dollar makes gold cheaper for holders of other currencies.
Elsewhere, Elliott Management Chief Executive Paul Singer said on Wednesday every institutional portfolio should be 5-10 percent invested in gold to protect against zero interest rates that are degrading the value of paper currency.
Among other precious metals, silver hit a 3-1/2-month high of $16.18 an ounce on Thursday before easing slightly. Platinum climbed to a five-week high of $999, before giving up gains to trade down 0.2 percent. Palladium edged up.
http://profit.ndtv.com/news/market/article-gold-at-over-3-month-high-on-bets-fed-to-delay-rate-hike-1232386
Comments
"with demand growth for zinc and other metals waning in China somewhat, with a notable downturn in new construction there among other things, you wonder if, or to what degree, Glencore is chasing down a declining market (in growth terms).
With this question in mind, we asked BMO analyst Jessica Fung her view on how much of a difference Glencore’s zinc cuts make to the zinc market.
She responds, “Glencore’s cuts do matter.”
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