Gold Hits Three-Month High
9 Articles
9 Articles
Gold prices rise for 3rd straight week, hit 3-month high. Can bullion reclaim $5,500 peak?
Gold rose 5% this week to nearly $4,603, marking its third consecutive weekly gain, supported by a weaker US dollar, Treasury bond buybacks and expectations of stable Fed rates. Analysts see long-term potential amid central-bank demand and currency concerns, though the World Gold Council expects near-term prices to remain rangebound.
The prices of future gold contracts closed high, exceeding US$ 4.6 thousand per ounce-troy, and recorded the third consecutive weekly gain, sustained by increasing demand for real assets in the face of fears about rising US public debt and financing costs. At Comex, New York Mercantile Exchange (Nymex) metal division, the gold with delivery scheduled for October closed high by 2.38%, to US$ 4.645.1 per ounce-troy. In the week, gold rose 5.50%. P…
Gold hits three-month high
Washington: Gold prices climbed on Friday to their highest level in over three months, heading for a third consecutive weekly gain.Spot gold rose to $4,617 per ounce until time of publishing, hitting its highest level since May 15. US gold futures gained 1.7% to settle at $4,647.The precious metal recorded a 5% weekly gain, having reached its highest daily level since early February on Wednesday.Among other precious metals, spot silver surged 2%…
The price of gold still rises and the spot quotations exceed the threshold of $4,600 per ounce. (ANSA)
Gold Heads for 5% Weekly Gain as Debt Fears, Weaker Dollar Revive Safe-Haven Demand
Gold prices surged on Friday, putting bullion on course for its strongest weekly gain in months as renewed concerns about U.S. government debt, a weaker dollar and volatility in the Treasury market revived demand for the traditional safe-haven asset. Gold futures rose 1.67% to $4,647.70 an ounce in early trading, while spot gold gained 1.55% […] The post Gold Heads for 5% Weekly Gain as Debt Fears, Weaker Dollar Revive Safe-Haven Demand appeared…
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