Economics
Gold Comes Back to Life as Prices Exceed 200-Day Moving Average
- Weak economic data signal Fed may delay rate rise till 2016
- Strength in gold market is going to stay for a while: Sumitomo
Are Commodities Weaker Than Anticipated?
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Gold is starting to shed its reputation as a dead asset, and bulls can thank signs the U.S. economy is starting to sputter for the boost.
The metal was little changed at $1,184.18 an ounce by 10:28 a.m. in London after climbing above its 200-day moving average on Wednesday for the first time in about five months. Prices touched the highest since June 22 yesterday and investors bought the most through gold-backed funds since August.