“Gold rebounded to trade above $1,400 an ounce as equities retreated and the dollar’s rally halted, boosting demand for the metal as a store of value. Silver, platinum and palladium increased.
Spot gold rose as much as 0.7 percent to $1,408.50 an ounce, and traded at $1,405.06 at 2:12 p.m. in Singapore. Prices decreased 0.9 percent yesterday. Cash silver advanced 0.4 percent to $22.6295 an ounce.
Gold dropped 16 percent this year as investors sold the metal from exchange-traded products at a record pace and the MSCI All-Country World Index rallied 7.8 percent. Asian stocks fell for the fourth time in five days, while the Dollar Index lost 0.2 percent. Assets in the SPDR Gold Trust declined to 1,010.45 metric tons, shrinking for the first time in a week….”
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