The Traderszone Network

Published in TZ Latest News 23 July, 2014 by The TZ Newswire Staff

Safe-haven bids keep gold above $1,300; physical demand eyed

Gold held steady on Wednesday in Asia after dipping overnight, and looked likely to hold above $1,300 an ounce in the near term as geopolitical tensions from crises in Ukraine and the Gaza strip brought safe-haven bids. Spot gold was little changed at $1,306.61 an ounce by 0627 GMT, after losing 0.4 percent in the previous session, pressured by firmer equities. “We continue to expect gold to come under pressure this year, while keeping in mind the near-term potential for further safe-haven demand,” Victor Thianpiriya, an analyst at ANZ, said in a note.

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