Market News
Gold and Silver Steady at New Year as Index Selling Looms - BLOOMBERG
(Bloomberg) -- Gold and silver steadied at the beginning of the year after their best annual performances since 1979 as traders assessed the reweighting of a benchmark commodity index that starts next week.
Bullion gained as much as 1.9% on Friday before paring most gains during US hours. Silver eased after earlier climbing as much as 4%. While traders have flagged the metals could do well this year on further US interest-rate cuts and dollar weakness, there’s concern that a broad index rebalancing might pressure prices in the near term. Given the metals have rallied, passive tracking funds may sell some contracts to match new weightings.
