| Recovering from the sharp fall of last month, Gold prices continued its upward momentum in October 2011. The increase in gold prices came as a result of the European debt escalation. Gold reclaimed its negative relation with the dollar but this meant that gold largely traded alongside with the “risk off” trade. However, this behavior was non persistent during times when debt crisis in the Euro zone intensified, and gold reclaimed its previous position.
Gold closed at $1718 on the London AM Fix, showing an increase of + 5.46%. Measured in Indian rupees, gold established an increase of +5.31%.............................................Full Article: Source
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