Gold approaches three-month low

Source: Moneycontrol

Gold tumbled to three-month low on stronger USD and as market sentiment was affected by the Italian auction due later today. Spot gold lost 0.7% to USD1,543.79 an ounce, indicating 11% monthly decline in December, the biggest monthly decrease in the last three years. US gold eased down by 1.2% to USD1,545. The yellow metal may fall to USD1,542 an ounce during today's trading, reported Wang Tao, analysts from Reuters.

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Thu, 29 Dec 2011 10:26:58 GMT

Silver falls ahead of Italy's auction

Spot silver approached three-month low, decreasing by 1.2% and adding to 5% loss in the previous trading session. Currently, the white metal is trading at USD26.88 an ounce, depicting 18% monthly loss and tumbling for the third quarter in line.

Thu, 29 Dec 2011 10:25:30 GMT

China to direct foreign investments to new sectors

China's government wants to channel foreign investments to new areas such as healthcare and financial-leasing. The government aims to redirect investment flow from automobile and petrochemical industries as they are already well-established. New investment guidelines, featuring investment areas that are favoured, have been already released.The new guidelines are expected to come into force at the end of January 2012.

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