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

Gold prices rise after hitting 2.5-month low

Posted on 24 April 2014

Gold edged up on Wednesday from the 2-1/2 month low it hit in the previous session as a softer tone to equities and the dollar helped arrest its slide, though it remained vulnerable to further losses as investor demand remained slack.
The metal hit its lowest since mid-February on Tuesday after U.S. housing data beat expectations, boosting confidence in the U.S. economic recovery and lifting stock markets, which hurt gold’s appeal as an alternative investment. It found support at its 100-day moving average at $1,277 an ounce, however, and turned higher after mixed euro zone data resulted in a retreat in European shares and the dollar………………………………………..Full Article: Source


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