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Gold price boosted by trade data

(China Daily)
Updated: 2010-03-11 11:02
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SINGAPORE - Gold gained for the first time in three days as China's trade data boosted prices of other metals and a resumption in the dollar's weakness boosted investor demand for the precious metal as an alternative asset.

Related readings:
Gold price boosted by trade data Gold steady as bargain hunting subsides
Gold price boosted by trade data Gold purchases ruled out to diversify forex reserves
Gold price boosted by trade data China calls US Treasuries important, wary on gold
Gold price boosted by trade data China's gold reserve ranks fifth in the world

Bullion for immediate delivery rose as much as 0.5 percent to $1,127.25 an ounce, before trading at $1,126.80 at 2:29 pm on Wednesday in Singapore.

Copper rose as much as 0.6 percent after China said it imported 10 percent more copper in February compared with the previous month.

"Gold is getting a small lift from the base metals complex," said Jia Wei, an analyst at Jiangsu Suwu Futures Brokerage Co. The metal is "hovering in the $1,100 to $1,200 range as investors vacillate between liking and avoiding risk".

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