Gold bounce more than 1 percent to a three-week max on Tuesday, increase in profit gains on safe-haven buying as stock markets down on mounting concern over Greece's future in the euro zone and as oil prices collapse.
Gold rallies as risk aversion builds
Its secure haven buying lifted gold above $1,200 an ounce on Tuesday, a level it has highly been thrust at in the past two months. Sliding in global stocks and oil prices, commodity analysts believe, are the catalysts for a gold rally. However, a powerful dollar could offset an successful rally in the metal. Stronger dollar translates into maximum rupee price of gold, one of the country's biggest import products.
0 comments:
Post a Comment