Gold May Climb as Rallies in Corn, Oil Fan Inflation Concerns
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Gold may advance for the first time in three days after grain and energy prices surged, boosting the precious metal’s appeal as a hedge against inflation.
Immediate-delivery bullion was little changed at $1,536.25 an ounce at 2:01 p.m. in Seoul, 2.6 percent below a record. The metal has gained 24 percent in the past year, reaching an all-time high of $1,577.57 on May 2. The August-delivery contract was also little changed at $1,537.30 in New York.