Gold Swings Below Six-Week High as Crude Assessed With Equities
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Gold held below the highest in more than six weeks as investors weighed prospects for deflation spurred by tumbling energy prices against signs of rising demand. Palladium rose toward the highest level since September, while platinum advanced.
Bullion for immediate delivery rose and fell at least 0.3 percent, and traded at $1,223.64 an ounce at 2:37 p.m. in Singapore from $1,226.31 yesterday, according to Bloomberg generic pricing. The metal climbed on Dec. 9 to $1,238.32, the highest level since Oct. 23, then retreated yesterday as a slump in oil prices deepened deflation concerns.