(Bloomberg) -- Gold rose from a 12-week low in New
York on speculation that last week's slump was overdone because
rising equity markets and higher energy costs will boost the
metal's appeal as a hedge against inflation. Silver gained.
Gold's 3.9 percent decline last week was the biggest in
three months, as the threat of higher interest rates led some
investors to sell the metal to cover losses in the equity
markets. U.S. stocks rebounded on June 8 after floor trading in
gold ended and European stocks rose today.
Read more at Bloomberg Commodities News
York on speculation that last week's slump was overdone because
rising equity markets and higher energy costs will boost the
metal's appeal as a hedge against inflation. Silver gained.
Gold's 3.9 percent decline last week was the biggest in
three months, as the threat of higher interest rates led some
investors to sell the metal to cover losses in the equity
markets. U.S. stocks rebounded on June 8 after floor trading in
gold ended and European stocks rose today.
Read more at Bloomberg Commodities News
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