14
January
Gold Advances, Set for Weekly Gain, on Outlook for China Demand
14 January 2011 Bloomberg.com
Gold for immediate delivery climbed, set to rebound from a loss last week, on speculation that demand from China, the second-largest consumer, will increase, while Europe’s debt woes spur haven investment.
Bullion rose as much as 0.3 percent to $1,378.20 an ounce and traded at $1,375.43 at 4:17 p.m. in Seoul. The price has gained 0.4 percent this week after losing 3.6 percent last week, the biggest loss since May 21.
