SINGAPORE, March 4 (Reuters) - Gold inched up on Monday,
bouncing from a one-week low hit on Friday, supported by
physical buying in Asia, but robust U.S. economic data dented
bullion's safe-haven appeal.
Automatic spending cuts that kicked off in the United States
on Friday, pushing spot gold to its lowest level in more than a
week, also continued to weigh.
"The broad theme might be gold-negative, because the
spending cuts are probably taking away a bit of the froth on the
idea that policymakers are spending out of control and they will
keep doing so until the recovery takes hold," said a Hong Kong-based trader. LINK...
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Government spending is Gold positive. If suitable, this is a good buying opportunity for long-term investors. BK
