Precious Metal
15/11/2013
10:00 am
Billionaire hedge fund manager John Paulson, who cut his gold holdings by more than half in the second quarter, maintained his bet on the metal over the next three months as prices rebounded. Gold fluctuated near a one-week high as investors assessed the Federal Reserve’s commitment to maintain stimulus. Billionaire investor John Paulson kept his holdings in the largest bullion-backed exchange-traded fund. Bullion for immediate delivery traded at $1,288.02 an ounce at 9:18 a.m. in Singapore after climbing to $1,294.42 yesterday, the highest since Nov. 8. Prices that are set for a third weekly loss advanced 1.5 percent in the two days through yesterday as Fed Chairman nominee Janet Yellen said she’s committed to promoting a strong economic recovery. Spot silver fell 0.1 percent to $20.7768 an ounce and is 3.4 percent lower this week, heading for the biggest such decline in two months. Platinum gained 0.2 percent to $1,449.72 an ounce and palladium was little changed at $739.60 an ounce. Copper rose for a second day, paring a weekly decline, after Federal Reserve Chairman nominee Janet Yellen backed U.S. stimulus measures until the economy improves.
15/11/2013
10:00 am
Billionaire hedge fund manager John Paulson, who cut his gold holdings by more than half in the second quarter, maintained his bet on the metal over the next three months as prices rebounded. Gold fluctuated near a one-week high as investors assessed the Federal Reserve’s commitment to maintain stimulus. Billionaire investor John Paulson kept his holdings in the largest bullion-backed exchange-traded fund. Bullion for immediate delivery traded at $1,288.02 an ounce at 9:18 a.m. in Singapore after climbing to $1,294.42 yesterday, the highest since Nov. 8. Prices that are set for a third weekly loss advanced 1.5 percent in the two days through yesterday as Fed Chairman nominee Janet Yellen said she’s committed to promoting a strong economic recovery. Spot silver fell 0.1 percent to $20.7768 an ounce and is 3.4 percent lower this week, heading for the biggest such decline in two months. Platinum gained 0.2 percent to $1,449.72 an ounce and palladium was little changed at $739.60 an ounce. Copper rose for a second day, paring a weekly decline, after Federal Reserve Chairman nominee Janet Yellen backed U.S. stimulus measures until the economy improves.
