Gold To The First Monthly Gain Since August

SINGAPORE . Gold futures to the world 's first monthly gain since August 2013 and the transaction today ( 28/2 ) . Citing data from Bloomberg , at 9:26 pm Singapore time , the contract price of gold for quick delivery is at U.S. $ 1332.61 per troy ounce . Previously , the position of the gold price closed at U.S. $ 1,331.33 per troy ounce yesterday .
Thus , during this month , gold prices have climbed by 7 % and was perched in the highest position in the last 17 ​​weeks at U.S. $ 1,345.46 a troy ounce on 26 February.
The increase in gold prices triggered by fears that the U.S. economic recovery started to lose momentum . In addition , the presence of shocks in emerging market economies to boost the level of demand for gold as a haven .
One signal is the high increase in demand for gold can be seen from the increase in ownership of the asset -based gold exchange traded products that recorded the first monthly increase in the last 14 months . According to data compiled by Bloomberg , gold holdings in ETP rose 0.3 % in Fenruari after sagging in the past year .

" Gold prices benefited from a weaker U.S. economic data . Moreover , the level of demand for gold has also increased due to concerns mengenani economy emerging market , " said Wang Xiaoli , chief investment strategist at CITICS Futures Co. . He also added , stabilizing the flow of funds into gold ETFs also a positive sentiment for gold prices .
bloomberg.com