Skip to content
Subscriber Only
Business
Economics

Gold Climbs From 6-Month Low in London; Platinum Advances

Gold swung between gains and losses near a six-month low as investors weighed signs of improving economic growth against speculation that the biggest weekly drop since May will spur purchases. Platinum rose as rubber bullets were used in a clash at an Anglo American Platinum Ltd. mine.

Bullion dropped 3.4 percent last week and holdings in gold-backed exchange-traded products fell the most since July in the period on growing confidence that the global economy is strengthening. Billionaire investor George Soros cut his gold ETP holdings last quarter, government filings showed last week. UBS AG said in a report today that its gold flows to India, the top buyer, were above average after the sell-off, and Morgan Stanley said it expects “bargain hunting” this week.