On the Thursday, Gold prices were slightly firmer, and could stay on the rise as global economic prospects remain shaky with investors watching for more jobs data out of the United States.
On Wednesday, Gold steadied off the two-month highs it hit earlier, when it broke above $1,250 an ounce for the first time since late June as concerns over the pace of U.S. economic growth prompted buying of the metal.
On Tuesday, Gold eased in Europe as a rally that took the precious metal to two-month highs last week ran out of steam, but ongoing concerns over the health of the financial markets supported prices near $1,235 an ounce.
On Monday, Gold firmed in a tight range, starting its fifth straight week in positive territory, with dealers looking to key U.S. jobs reports for clarity on its economic health.
World Gold Council reported that the demand for gold will remain robust during 2010 as a result of accelerating demand from India and China, as well as increasing global investment demand driven by continuing uncertainty over public debt and economic recovery.
On Friday, Gold touched a four-week high, extending gains from the previous day as investors bought the precious metal and shied away from riskier assets on concern about the health of the global economy.
On Thursday, Gold regained strength after falling the previous day as investors sold bullion to cover losses in equities, but a firmer dollar was likely to cap gains.
On Wednesday, Gold edged up on bargain hunting driven by a drop in stock markets and after the U.S. Federal Reserve said it would keep interest rates low, but a lack of physical buying could cap gains.
On Tuesday, Gold prices eased below $1,200 an ounce in Europe as the dollar strengthened, but remained supported by uncertainty ahead of a monetary policy meeting of the U.S. Federal Reserve later in the day.
On Monday, Gold rose as uncertainty hit the market ahead of a U.S. Federal Reserve policy meeting this week, with soft economic data sparking speculation that the Fed may announce additional monetary easing measures.
Thursday, September 2, 2010