Global Gold Back Shines


Global gold prices rose after the two trades yesterday had eroded. Investors returned to the market because the central bank hopes to issue stimulus after data showed slowing growth.

Launched by Reuters on Friday (21-9), the spot price of gold rose $ 5, 07 or 0.29 percent to USD1.772, 26 per troy ounce. While gold United States (U.S.), Comex Gold for December pengirman, crawling up the $ 5, 10 or 0.3 percent to USD1.775, 30 per troy ounce.

U.S. manufacturing data showed the lowest level in three years. In addition, the number of people the United States (U.S.) who filed claims for jobless benefits are still not moved from the highest level. It showed the U.S. economic recovery is still not successful.

The data also showed that China's economy continues to slow down, and the European Central Bank's plan to buy government debt of member countries in trouble, do not provide the impetus for economic growth in the area.

Holdings of the largest gold, SPDR Gold Trust, which is supported by the stock exchange, edged up 0.2 percent to 1,308.41 tonnes, the highest since last August. While holding the largest silver ETF, iShares Silver Trust, said its holdings rose to a 11-month high of 9,940.66 tonnes.

Shandong Gold Group, one of the top gold producers in China, agreed to buy a 51 percent stake in Focus Minerals Australia with a value of USD227, 500 million to increase output and help meet the growing domestic demand.