Gold Rises on Higher Demand

Gold climbed from a one-month low as signs of increased demand spurred traders to close bets on lower prices placed amid expectations the U.S. Federal Reserve may soon begin to scale back stimulus.
In China, the second-largest consumer, volumes for cash gold of 99.99 percent purity on the Shanghai Gold Exchange climbed to a one-month high of 14,888 kilograms (32,822 pounds) on Nov. 11, and were 12,681 kilograms yesterday. The metal fell to $1,261.42 an ounce in London yesterday, the lowest since Oct. 15, after Fed Bank of Atlanta President Dennis Lockhart said a paring of U.S. bond purchases “could very well take place” next month.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza