Assets
in the SPDR Gold Trust, the biggest exchange-traded product backed by
the metal, last week rose 3.3 percent, the most since May 2010. Futures
posted the biggest weekly gain in 18 months after the Swiss central bank
unexpectedly abandoned its currency peg against the euro. The
International Monetary Fund on Monday made the steepest cut to its
global-growth outlook in three years.
The
metal on Tuesday climbed to a 20-week high amid speculation that
stagnant foreign economies will prompt the Federal Reserve to wait
longer before raising interest rates. ECB President Mario Draghi will
probably announce a 550 billion-euro ($638 billion) program of
quantitative easing this week, economists said in a Bloomberg survey.
Gold
futures for February delivery climbed 1.4 percent to settle at
$1,294.20 at 1:39 p.m. on the Comex in New York. Earlier, the price
touched $1,297.20, the highest for a most-active contract since Aug. 28.
The metal advanced for a seventh straight session, the longest rally
since Feb. 18.
Sumber : ewfpro.com
