gold_blom.jpg

Investors add most gold to funds in 5 months amid Greek impasse

Gold exchange-traded product holdings rose 6.9 metric tons, the most since Feb. 2, to 1,598.7 tons, data show.

Investors bought probably the most gold through physically-backed funds in almost five months as Greece and it is creditors going to last-ditch talks. Bullion prices were little changed and palladium was near a two-year low.

Gold exchange-traded product holdings rose 6.9 metric tons, the most since Feb. 2, to 1,598.7 tons, data published by Bloomberg as of Thursday show. Assets rose in seven of history eight days, rebounding in the lowest level since 2009.

German Chancellor Angela Merkel said a weekend meeting of finance ministers will be decisive for Greece, which faces a debt repayment next week.? A separate European Union official asserted without a deal by then, ministers would have to pre-plan ways to manage the possibility consequences of the Greek default.

Related