Gold advanced the most in more than two weeks amid speculation that China, the world’s biggest consumer, will take more measures to bolster the economy, boosting demand for the precious metal as a store of value.
Oil rallied further after the leaked Fed story. Apparently the Fed did not want the market thinking that rates were going up anytime soon so they dropped a dime to their buddy Jon Hilsenrath at the Wall Street Journal.
The China Gold Congress is currently in full flight in Beijing. The three day Congress is China’s biggest gold industry event of the year, drawing in participants from across the Chinese and international gold sectors including central banks, mining companies, bullion banks and refiners.