Gold futures soared Monday, reclaiming the $1,200 level for the first time since late October.
The increase in the yellow, precious metal, viewed as a haven asset, was spurred, in part, by a downgrade of Japan’s sovereign debt rating and a retreat in the dollar.
Gold for February delivery GCG5, -1.03% jumped $42.60, or 3.6%, to settle at $1,218.10 an ounce. The last time the precious metal closed above $1,200 was on Oct. 29. Meanwhile, March silver SIH5, -2.20% surged $1.14, or 7.3%, to $16.69 an ounce.
Tokyo (Nikkei Average) up 0.1%
Hong Kong (Hang Seng Index) up 0.4% (at break)
Shanghai (Shanghai Composite Index) up 0.7% (at break)
Sydney (S&P/ASX 200) up 1.4%
Seoul (Kospi) down 0.3%
Mumbai (Sensex) down 0.2%
Taipei (Taiex) down 0.9%
Asian shares were mixed on Tuesday following a weak lead from Wall Street, while energy firms clawed back some losses and airlines dipped after oil prices rebounded from multi-year lows.
The Russian ruble strengthened slightly against the dollar after suffering its worst one-day fall in 16 years, battered by falling crude and Western sanctions over Ukraine.
Tokyo eased 0.10 per cent as the yen edged up against the dollar, while analysts said dealers were unfazed by a decision by Moody's to downgrade Japan's credit rating.
Sydney jumped 1.00 per cent, boosted by the rally in energy firms after their huge losses in the previous two sessions, while Hong Kong edged up 0.11 per cent and Shanghai fell 0.52 per cent. Seoul was 0.28 per cent lower.
