PRECIOUS-Gold rises but outlook clouded by lower investment

Gold market update for Wednesday, April 24th. Gold is higher following a slight pullback in Tuesday trading. Surging physical demand both in the U.S. and around the world have buoyed the metal since it’s dramatic drop last week. Confidence though is still weak following the slump, as ETF inventories continue to flow out, reaching their lowest levels since October 2009. According to this report from Reuters, gold is “…torn between a rise in demand for jewellery and coins, and investors in exchange-traded funds cutting exposure on worries about central bank sales and prospects of an end to inflationary monetary policy in the United States.” Read more…