PT. Equityworld Futures - Gold
futures rose for the first time in three days as China took steps to
shore up economic growth amid signs of a deepening slowdown, boosting
demand for the metal as a store of value.
China reduced the
amount of cash lenders must set aside as reserves in a bid to increase
liquidity, following capital outflows and weaker manufacturing. Gold
pared earlier gains of as much as 1 percent after a report showed U.S.
service industries expanded at a faster pace last month.
The metal in January
jumped the most in three years as concern mounted that Greece would exit
the euro area and officials in Europe and Asia announced stimulus to
bolster stagnating economies. Imports by India, the world™s
second-biggest user, surged in the 10 months ended Jan 31 after the
government eased curbs on purchases.
On the Comex in New
York. gold futures for April delivery rose 0.3 percent to settle at
$1,264.50 an ounce at 1:51 p.m. Aggregate trading was 25 percent below
the 100-day average, according to data compiled by Bloomberg. The price
fell 1.5 percent in the previous two days on concern that U.S. interest
rates will increase soon.
Last year, gold posted
a consecutive annual decline for the first time since 1998 as the U.S.
economy gained traction and equities surged to a record.
Sumber : ewfpro.com
