31
May
Gold Poised for Second Monthly Advance on European Debt Woes
31 May 2010 Bloomberg.com
Gold, little changed in Asia, is poised for a second monthly gain amid investor concern Europe’s debt crisis may stall the global recovery, boosting demand for a haven. Palladium is set for its first drop in 17 months.
Bullion for immediate delivery declined as much as 0.4 percent to $1,209.95 an ounce, before trading at $1,212.47 at 2:31 p.m. in Singapore. The metal added $1.72 to $1,214.38 on May 28, its highest close since May 18, after Fitch Ratings stripped Spain of its AAA credit grade, prompting speculation that the region’s debt crisis will hurt economic growth.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aVDHRegZZR5U
