1
July
Gold Extends Quarterly Rise as Physical Buyers Boost Purchases
1 July 2009 Bloomberg.com
Gold gained in Asia, extending its third quarterly increase, as jewelers and other physical buyers were attracted by the precious metal’s drop below $940 an ounce.
The National Spot Exchange Ltd. in India, the world’s largest consumer, yesterday launched small-denomination contracts to lure households to trade physical gold. Turkey, the world’s third-largest manufacturer of gold jewelry in 2007, imported $125 million worth of the metal in the past three weeks as the wedding season boosts demand, according to a report in Turkish newspaper Referans yesterday.
http://www.bloomberg.com/apps/news?pid=20601012&sid=a7rbTpiWoS8Q
