Srie Hartati

Gold futures rose the most in a week as the euro's tumble revived demand for the metal as a haven. The euro fell as much as 1.8 percent against the dollar after the Bank of Spain took over a failing regional lender. Last week, gold slid 4.2 percent, the most since December, on sales by some investors to cover losses in other markets. On May 22, the Bank of Spain said that it appointed a provisional administrator to run CajaSur, a savings bank crippled by defaults on property loans. Spain's recession has driven up defaults at the country's banks, which have made loans worth 454 billion euros ($564 billion) for real estate and construction. Assets in the SPDR Gold Trust, the biggest exchange-traded fund backed by bullion, rose to a record 1,220.15 metric tons on May 19. Gold is trading at $1,192 as of 21:28pm, London-Time, with a bullish trend. Gold's Pool-Position is 67% Long, meaning that most Finotec clients are buying the precious metal.
(ibtimes)