Gold swings below 12-week high as growth to U.S. rates assessed - Gold traded below the highest level in 12 weeks as investors gauged the impact of plunging commodities prices on global growth and inflation against the outlook for U.S. interest rates. Bullion for immediate delivery rose and fell at least 0.2 percent, and was little changed at $1,227.25 an ounce at 3:01 p.m. in Singapore, according to Bloomberg generic pricing. The metal rose yesterday to $1,244.51, the highest since Oct. 23, before ending 0.2 percent lower amid the slump in raw materials. Oil and copper prices at the lowest in 5 1/2 years are threatening to push inflation further below the Federal Reserves 2 percent target and spurring speculation the central bank may hold back from raising rates. Fed Bank of Philadelphia President Charles Plosser said previous asset purchases will help the central bank achieve its goal.
Posted on: Thu, 15 Jan 2015 08:41:19 +0000
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