12
January
Gold Gains for Third Straight Day on Increased Demand for Investment Haven
12 January 2011 Bloomberg.com
Gold, little changed in London, may rise after a member of the Federal Reserve said the bank could pare back stimulus measures and Europe’s governments wrestled with the sovereign-debt crisis, boosting demand for a haven. Federal Reserve Bank of Philadelphia President Charles Plosser said yesterday that the U.S. central bank may have to reassess asset-purchase plans or the policy could “backfire.” European Central Bank council member Axel Weber said today that optimism about Europe’s debt crisis is “premature” and that it’s too early to say the region’s issues have been addressed.
