Gold Poised for Biggest Monthly Advance Since April on Investment Demand

31 August 2010


 Gold is set for the biggest monthly advance since April as signs that the global economic recovery may be faltering prompt investors to boost their holdings to try to preserve their wealth.

Gold for immediate delivery was little changed at $1,236.20 an ounce at 12:56 p.m. in Singapore, climbing 4.7 percent this month. The metal, which reached a record $1,265.30 an ounce in June, climbed 5.9 percent in April. The December contract in New York was also little changed today at $1,238.50 an ounce.