{"id":15964,"date":"2012-10-29T20:09:37","date_gmt":"2012-10-29T18:09:37","guid":{"rendered":"http:\/\/www.myza.co.za\/10\/precious-gold-holds-near-1710-on-global-growth-concerns\/"},"modified":"2012-10-29T20:09:37","modified_gmt":"2012-10-29T18:09:37","slug":"precious-gold-holds-near-1710-on-global-growth-concerns","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/precious-gold-holds-near-1710-on-global-growth-concerns\/","title":{"rendered":"PRECIOUS-Gold holds near $1,710 on global growth concerns"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Resilience above $1,700\/oz reassures investors<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Drop in stocks, commodities exerts some pressure<\/p>\n<p><span><\/span><\/p>\n<p>* Markets brace for impact of Hurricane Sandy<\/p>\n<p><span><\/span><\/p>\n<p>By David Brough<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Oct 29 (Reuters) &#8211; Gold held near $1,710 an ounce on<br \/>\nMonday as concerns over the global growth outlook supported<br \/>\ndemand for the metal as a store of value, but losses in the<br \/>\nbroader financial markets kept up some pressure on prices.<\/p>\n<p><span><\/span><\/p>\n<p>Resilience above $1,700 an ounce, a level gold repeatedly<br \/>\ntested last week, has reassured buyers who had feared a deeper<br \/>\ncorrection after it fell to a more than six-week low at<br \/>\n$1,698.39 on Oct. 24, analysts said.<\/p>\n<p><span><\/span><\/p>\n<p>Spot gold was down 0.1 percent at $1,708.96 an ounce<br \/>\nat 1537 GMT, while U.S. gold futures for December<br \/>\ndelivery were down $2.40 an ounce at $1,709.50. It is settling<br \/>\ninto a range after running into support last week, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;I don&#8217;t think we&#8217;ll break too far out from $1,700 or<br \/>\n$1,715,&#8221; the Bank of Nova Scotia&#8217;s head of precious metals Simon<br \/>\nWeeks said. &#8220;There&#8217;s good physical interest on the dips.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Spot gold is heading for its biggest monthly loss since May,<br \/>\nhaving hit an 11-month peak above $1,795 an ounce on Oct. 5<br \/>\nafter the Federal Reserve unveiled its latest stimulus programme<br \/>\nof purchasing mortgage-backed debt.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Resilience above $1,700\/oz reassures investors * Drop in stocks, commodities exerts some pressure * Markets brace for impact of Hurricane Sandy By David Brough LONDON, Oct 29 (Reuters) &#8211; Gold held near $1,710 an ounce on Monday as concerns over the global growth outlook supported demand for the metal as a store of value, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-15964","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=15964"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/15964\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=15964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=15964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=15964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}