21
January
Gold May Advance Next Week as Investors Go `Bargain Hunting,' Survey Shows
21 January 2011 Bloomberg.com
Spot gold headed for a third weekly drop amid speculation China will raise interest rates, curbing commodities demand, and as exchange-traded product holdings fell to the lowest since August. Silver slipped to a seven-week low.
Bullion for immediate delivery was little changed at $1,347.98 an ounce at 4:23 p.m. in Seoul. The price yesterday tumbled to $1,343.53 an ounce, the lowest level since Nov. 19. The February-delivery gold contract was also little changed at $1,347.50 an ounce in New York.
