Stormy skies lift up gold

TUMULTUOUS headwinds from Greece and China come as good news for gold, as did news the US Federal Reserve might consider delaying a rise in US interest rates.
Stormy skies lift up gold Stormy skies lift up gold Stormy skies lift up gold Stormy skies lift up gold Stormy skies lift up gold

According to Bloomberg, the US central bank said it needed more evidence that economic growth was strong enough before upping the rate, which caused the gold price to rise for a second consecutive day after a three-month slump.

The International Monetary Fund also cut its global growth forecast for the year in response to the Greece and China economic crises and the weak US first quarter performance.

Meanwhile efforts from the Chinese government to curtail a stock market rout had nickel taking the lead among industrial metals.

Nickel's delivery in three months increased 4.9% to $US11,500 ($A15,000) per tonne on the London Metal Exchange, which had a knock-on effect for tin and zinc. Aluminium and lead, however, fell.

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