Gold extends gains after the biggest monthly rise in four years Published in economic
Gold extends gains after the biggest monthly rise in four years
Published in economic
March / March 1, 2016 15:42
LONDON (Reuters) - Gold rose on Tuesday , upping the biggest monthly gain in four years with the growing demand for buying the yellow metal as a safe haven as a result of concerns about the global economy after weak data from China and the United States.
Gold rose in online transactions 0.2 percent to $ 1239.82 the ounce by 1030 GMT , also went up in futures in the United States April delivery 0.5 percent to $ 1240.60.
The data on Tuesday showed a significant contraction of the industrial sector in China , surpassing expectations in February , suggesting the need for Beijing to adopt more stimulus measures to avert an economic slowdown is greater. And last night moved China 's central bank to resume easing measures.
On the other hand , precious metals silver settled at $ 14.88 an ounce , while platinum rose 0.7 percent to $ 936.24 an ounce and palladium 2.6 percent to 502.96 dollars an ounce.
And palladium rise after weaker than other precious metals in the past month performance record since dropped 1.2 percent, while gold climbed 10.7 percent Mshla largest monthly gain since January January 2012.