Tuesday, 24 June 2014

Special News About Gold In Commodity Market

Gold has been boosted recently by escalating violence in Iraq, where Sunni tribes have joined a militant takeover of northern Iraq. Secretary of State John Kerry on Monday promised "intense and sustained" U.S. support for Iraq, but said the divided country would only survive if its leaders took urgent steps to bring it together.

Investor sentiment  towards gold, often seen as an investment-hedge, has improved with SPDR Gold Trust, the world's top gold-backed exchange-traded fund, notching a 2.4 tonne increase in holdings to 785.02 tonnes on Monday. Russia's gold reserves rose to 34.7 million troy ounces in May from 34.4 million troy ounces in April. We expect Gold prices to remain  up for the day as increasing tensions in Iraq and Ukraine can push the Gold prices higher.

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