Gold Is Little Changed, Heads for Annual Gain on Debt Concerns
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Gold futures were little changed after advancing 27 percent this year on demand for a haven from escalating European debt.
Investment in 10 leading exchange-traded funds backed by gold has climbed 18 percent this year. Futures reached an all-time high of $1,432.50 an ounce on Dec. 7 and are headed for a 10th straight annual gain. The International Monetary Fund said yesterday it concluded the planned sale of 403.3 metric tons, or 13 percent of its gold reserves.