10
September
Gold Rebounds From Biggest Drop Since July After Bangladesh IMF Purchase
10 September 2010 Bloomberg.com
Gold climbed, heading for the sixth straight weekly advance, on speculation that Bangladesh’s purchase of 10 metric tons from the International Monetary Fund may signal growing demand for the metal as an alternative asset.
Gold for immediate delivery added 0.2 percent to $1,246.20 an ounce at 3:36 p.m. Seoul time. The price yesterday dropped 0.9 percent, the biggest loss since July 27, after data showed the U.S. trade deficit narrowed more than forecast in July and filings for jobless benefits plunged last week.
