Sunday, May 6, 2007

Spot gold firm, Tokyo precious metals surge

(Reuters) - Tokyo gold futures rose more than 2 percent to a two-month high and platinum futures reached a record high on Monday as firmness in cash gold, which held near a two-week high due to dollar weakness, encouraged active buying.

Precious metals drew broad demand from investment funds as the dollar weakened against the euro after Friday's soft U.S. payrolls report reinforced expectations that the U.S. Federal Reserve could lower interest rates later this year.


Read more at Reuters Africa

No comments: