BESTPROFIT FUTURES (24/04) - Gold
futures rebounded from a 10-week low as falling U.S. home sales
triggered concern that the economy still faces challenges, boosting
demand for haven assets.
Sales
of new homes dropped to the lowest in eight months, Commerce Department
data showed today. Gold has rebounded 6.8 percent this year on concern
that U.S. growth was faltering and as tension escalated in Eastern
Europe. Ukraine resumed operations to oust militants from eastern cities
as the U.S. said 600 troops will be sent for exercises in four
countries bordering Russia.
Bullion
futures for June delivery rose 0.3 percent to settle at $1,284.60 an
ounce at 1:47 p.m. on the Comex in New York, the first gain in four
sessions. Prices touched $1,275.80 yesterday, the lowest for a
most-active contract since Feb. 11.
Copy Source: Bloomberg