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Gold Falls as China Lending Policy Damps ‘Hot Money’ for Metals
Dec. 10, 2010 10:25AM PST
Precious MetalsBloomberg reports that on Friday, Gold futures fell, heading for a weekly loss, as concern that China may tighten monetary policy.
Bloomberg reports that on Friday, Gold futures fell, heading for a weekly loss, as concern that China may tighten monetary policy.
The market news is quoted as saying:
China, the world’s biggest gold buyer after India, ordered lenders to park more money with the central bank for the third time in five weeks. Before today, gold climbed 27 percent this year, reaching a record $1,432.50 an ounce on Dec. 7.
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