Bloomberg (Reported 6/29/2010)
“Gold prices rose for the third time in four sessions amid slumping U.S. consumer confidence and signs of slowing economic growth in China, boosting demand for the precious metal as a store of value.
An index of consumer confidence in June fell more than analysts forecast, and a gauge of China’s economy in April showed the smallest gain in five months. Global equities tumbled, and most commodities slumped.” Gold Rebounds on Haven Demand Amid U.S., China Economic Concern
Reuters (Reported 6/29/2010)
“Gold rebounded on Tuesday as a global rout in equities and sharply lower commodities prompted investors to pile in amid renewed fears about European credit contagion.
Fears of a potential liquidity shortfall of more than 100 billion euros in the financial system as European banks repay 442 billion euros ($545.5 billion) in emergency loans sparked the latest sell-off in equity markets, with the Dow losing about 250 points.” Gold rebounds as equities, commodities sell off
MarketWatch (Reported 6/29/2010)
“August delivery of the yellow metal added $3.80, or 0.3%, to $1,242.40 an ounce on the Comex division of the New York Mercantile Exchange. Copper futures slid 5.1% as an economic indicator for China was revised down.
Gold turned higher after U.S. consumer sentiment took a hit in June, with the Conference Board consumer-sentiment index falling to 52.9 in June, its lowest level since March.” Midday rebound delivers for gold; copper loses 5.1%
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