(Bloomberg) -- Gold was little changed in Asia as a
decline in crude oil prices limited the appeal of the precious
metal as a hedge against inflation. Silver gained.
Gold and crude oil normally move in tandem as some investors
buy the precious metal when energy costs rise to guard against
inflation. Oil futures fell from a 10-month high yesterday on
signs demand will drop as U.S. refineries shut units and as the
end of the peak season for gasoline approaches. Oil declined as
much as 0.3 percent today to $71.95 a barrel.
Read more at Bloomberg Commodities News
decline in crude oil prices limited the appeal of the precious
metal as a hedge against inflation. Silver gained.
Gold and crude oil normally move in tandem as some investors
buy the precious metal when energy costs rise to guard against
inflation. Oil futures fell from a 10-month high yesterday on
signs demand will drop as U.S. refineries shut units and as the
end of the peak season for gasoline approaches. Oil declined as
much as 0.3 percent today to $71.95 a barrel.
Read more at Bloomberg Commodities News
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