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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold up to $1,650 on investor faith

Posted on 07 October 2011

Spot gold prices firmed up by almost $8 this afternoon and were trading at $1,649.42 per ounce at 12.22pm UAE time in a range-bound market even as global equities moved up on hopes that the Eurozone’s efforts to prop up its ailing banks could work.
Despite a volatile spot market over the past couple of weeks, gold prices have not dipped below the $1,600-mark for any significant duration of time, suggesting that investors believe that that is a reasonable price-point for the yellow metal at this stage……………………………………….Full Article: Source

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