Gold Still “Tracking the Dollar” as Money Supply Slows Outside China

THE SPOT PRICE of gold bullion rose 0.7% from an early dip to $936 an ounce in London on Monday, lagging a 1.0% rally in European equity markets. Crude oil recovered to just below $70 per barrel, despite a cut in global oil-demand forecasts at the International Energy Agency. Copper rose as Shanghai reported a sharp drop in stockpiles, but long-dated government debt prices also rose, pushing the yield offered by 10-year US Treasuries down to a five-week low of 3.47%. “The main driver of gold at the moment is moves in the ...