9
March
Gold, Little Changed, May Decline a Second Day on Dollar, China
9 March 2010 Business Week
Gold, trading little changed in Asia, may drop for a second day as the dollar halted its decline and China said bullion is not likely to be the country’s main reserve investment.
Gold for immediate delivery traded at $1,122.18 an ounce at 2:24 p.m. in Singapore, after falling as much as 0.3 percent earlier. The precious metal is “unlikely” to be China’s primary investment to diversify its reserve holdings because of price risks, Yi Gang, head of the State Administration of Foreign Exchange, said today.