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29/01/2013 08:40 AST
Gold holdings in exchange-traded products are poised for the biggest monthly decline in more than a year as signs that the global economic recovery is strengthening curb demand for haven investments.
Assets contracted 0.8 percent so far in January, the largest decrease since December 2011, according to data compiled by Bloomberg. The holdings, which reached a record in December, dropped to a two-month low of 2,610.272 metric tons yesterday.
Analysts from Credit Suisse Group AG to Goldman Sachs Group Inc. are calling for gold to peak in 2013 after a 12-year rally as the global economy rebounds. U.S. durable-goods orders rose in December for an unprecedented fourth consecutive month, data showed yesterday, while China’s economy snapped a seven-quarter slowdown in the final three months of 2012. The countries are the world’s two largest economies.
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Bloomberg
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Gold | 1,332.2 | -8.6 | -0.64 |
Silver | 16.4 | -0.21 | -1.23 |
Platinum | 923 | -9 | -0.97 |
Palladium | 929 | -3 | -0.32 |
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