Bloomberg reports that Gold futures were little changed, erasing earlier gains, as the U.S. dollar rebounded from lows, making the metal less attractive as an alternative investment.
Articles Tagged "greenback"
Bloomberg reports that Gold fell the most in a week on speculation that the dollar will extend a rally.
Bloomberg reports that Gold may climb in New York on speculation a deal to rescue Ireland’s banks will curb a spread of the debt crisis.
Businessweek reports that Gold may decline in New York after China raised bank reserve ratios again, curbing demand for bullion.
Bloomberg reports that Gold futures headed for the biggest gain in two weeks.
AQM Copper Inc. (CVE:AQM) announces more positive drill results from the Zafranal project.
Some analysts have pointed out that gold has few end users and a healthy above-ground supply, so why has it shown so much price strength in the last few years?
After hitting record highs of $1249 an ounce last week, gold has lost much of its May luster the past few days, dropping as low as $1174 an ounce in New York Thursday morning. While traditionally one would expect the precious metal to be trading up in such an environment, uncertainty across all markets remains high.
After hitting an all-time record high, the price of gold edged back down Thursday. Precious metals analysts are blowing off the break as little more than a bit of profit-taking or a short breather before gold prices continue their upward climb on fear and uncertainty in the markets, which has been pushing investors into safe-haven assets.
Many analysts are speculating that the dollar will rebound next week after Friday’s report, curbing gold demand and furthering its rangebound predicament.