An ounce of gold
bought as many as 1.012 ounces of platinum in London today, data
compiled by Bloomberg show. The ratio had mostly held below 1 since
April 2013. Holdings in gold-backed exchange-traded products jumped 26.2
metric tons in the two days through Jan. 16, the biggest advance since
2011.
Bullion climbed 4.7
percent last week, the most since August 2013, after the Swiss National
Bank decided to let the currency trade freely against the euro and
deepened negative deposit rates. Chinese equities lost the most since
2008 today and the European Central Bank may announce additional
stimulus measures at a meeting this week.
Gold for immediate
delivery lost 0.3 percent to $1,277.14 an ounce by 11:15 a.m. in London,
after reaching $1,283 earlier today, the highest since Sept. 2.
Platinum fell 0.3 percent to $1,263.25. U.S. financial markets are
closed for Martin Luther King Day.
A slump in commodity
prices has raised speculation that the Federal Reserve may hold back
from increasing its key rate, which has been kept near zero since 2008,
as data has showed inflation held below the central bank™s 2 percent
target. ECB policy makers meet Jan. 22, three days before Greek
elections that™s spurred concern the country may exit the currency bloc.
Silver for immediate
delivery declined 0.5 percent to $17.6978 an ounce, reversing an advance
to $18.0075 earlier today, the highest since Sept. 19. Prices climbed
7.8 percent last week, the most since August 2013. Palladium rose 1.1
percent to $765.90 an ounce.
Sumber : ewfpro.com
