4
August
Gold Climbs, Extends Best Run in Two Months, as China Eases Trading Rules
4 August 2010 Bloomberg.com
Gold climbed for a sixth day in New York, the longest run of gains since November, on speculation China’s plans to relax rules on trading and weaker equities will increase demand.
China’s central bank said yesterday it would let more banks import and export gold and give foreign companies greater access to trading. European and Asian equities slid today on speculation reports today will add to indications that the U.S. economic recovery is slowing. Gold futures rose above $1,200 an ounce for the first time since July 23.
