Gold Rises for First Time in Four Days on China Demand: Report
Gold futures gained for the first time in four sessions as demand increased in China, the world's second-biggest buyer, Bloomberg reported.
Imports by China from Hong Kong almost doubled in November from a month earlier, government data showed today. The U.S. Mint has sold 71,500 ounces of American Eagle gold coins this month, compared with 76,000 ounces for all of December. On Jan. 4, futures touched a four-month low on signals from the Federal Reserve that its latest stimulus program may end this year.
Gold futures for February delivery rose 0.6% to $1,656.70 an ounce on the Comex in New York. The price dropped 2.5% in the previous three sessions.
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