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- Gold holds above $1,200
Gold holds above $1,200
Gold is currently at $1,235.20 (-0.31%). The precious metal retreated on Wednesday after climbing 2% as stocks advanced. Stocks rose following higher oil prices, however many Asian shared fell after crude resumed declines. Weak stocks and oil support demand for gold and other safe-haven assets. Rising expectations that the Federal Reserve will keep delaying the next rate hike are favorable for bullion too.
Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund, rose to 760.32 tonnes on Wednesday.
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