Gold climbed for a third day, set for the longest run of gains in two weeks, as slumping equity markets and political uncertainty in Greece spurred demand for a haven.
The U.S. Mint sold 42,000 ounces of gold coins so far this month compared with 18,000 ounces in all of December. In China, the largest consumer, volumes for the benchmark spot contract on the Shanghai Gold Exchange rose today to the highest level since Dec. 18.
European policy makers are focused on the fate of Greece, which triggered the region’s sovereign-debt crisis in 2009, as campaigning begins for a Jan. 25 election that Prime Minister Antonis Samaras said may lead to an exit from the 19-member euro zone region should the opposition anti-austerity Syriza alliance win. The euro traded near an almost nine-year low.
via Bloomberg
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