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Tuesday, July 2, 2013

News Today

Switzerland’s biggest bank, started storing gold for wealth-management clients at a facility in Singapore, citing interest from investors in the region even after the metal slumped into a bear market.

The U.K.'s economic recovery gained momentum in the second quarter as exports grew and business confidence improved again, a quarterly survey showed Tuesday.

Gold extended a rebound from a 34-month low, gaining for a third day, on speculation that lower prices will raise demand even as holdings in the largest bullion-backed exchange-traded product resumed a decline.

Gold has further to drop in the rout that erased $66 billion from the value of investor holdings and took prices below the level some mines need to break even.

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