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Updated 16:32 25/02/20

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Gold extends gains to third day

Adam Pike, News Editor
10 Apr 2014, 10:36 a.m.

The gold price increased for the third consecutive day after minutes from the Fed's March policy meeting indicated officials are reluctant to increase interest rates in the short term.

The low interest environment in the U.S. which reduces the opportunity cost of holdings non yielding bullion above other assets, has been a major driver behind the higher gold price in recent years

The gold price touched $1,316.81 per ounce yesterday before finishing Asian trading 0.3% up at $1,315.04.

Assets held in the world’s largest exchange traded fund, the SPDR Trust, have remained constant since March the 24th.

View original source at: www.bdlive.co.za

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