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Gold rises for 2nd consecutive session

English.news.cn   2014-03-12 05:12:14

CHICAGO, March 11 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose for the second consecutive session Tuesday.

The most active gold contract for April delivery rose 5.2 U.S. dollars, or 0.39 percent, to settle at 1,346.7 dollars per ounce.

Worries over Ukraine and concerns about economic slowdown in China have boosted the safe-haven appeal of gold.

In the meantime, gold exchange-traded funds have seen a capital flow reversal, from outflows last year to inflows this year, which indicates that investors have begun to buy gold again.

Demand for gold from Asia, from China in particular, remaining at record or near-record levels from the start of this year also supported gold.

Investors were now waiting to see how economic figures to be released this week will impact the Federal Reserve's monetary policy decision on March 19.

Silver for May delivery lost 9.5 cents, or 0.45 percent, to close at 20.815 dollars per ounce. Platinum for April delivery slipped 12.6 dollars, or 0.85 percent, to close at 1,464.6 dollars per ounce.

Editor: Mu Xuequan
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