17
May
Gold Halts Two-Day Decline as Growth Concerns Eclipse Soros’ Bullion Sales
17 May 2011 Bloomberg.com
Gold gained, halting a two-day drop, as declines in Asian stocks and commodities helped ignite demand for safer assets even after billionaire investor George Soros sold most of his exchange-traded bullion holdings.
Immediate-delivery gold rose 0.4 percent to $1,495.22 an ounce at 11:54 a.m. in Mumbai. Silver futures were little changed at $34.085 an ounce, while cash silver advanced 2 percent to $34.2750, rebounding from a 5.1 percent decline yesterday.
