Gold Futures Advance in New York as Price Decline Lures Buyers
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Gold futures advanced for the first time in three sessions as lower prices lured buyers of the physical metal. Silver also gained.
Gold demand in India, the world’s largest buyer, is heading for a quarterly record as imports reach 300 to 400 metric tons, the World Gold Council said in a report today. That’s equal to almost half of the total shipments for all of last year. Prices that dropped 17 percent this year are headed for the second straight monthly loss as some investors lost faith in the metal amid an improving economic outlook and concern that the Federal Reserve may curb its stimulus measures.