News for Gold
Aug 4 · 10:30:00 AM · Source: Bloomberg.com
Gold gained in New York and London as the dollar traded near a 10-month low, increasing demand for the precious metal as an alternative investment.
“If gold does break through $960 an ounce, the next resistance will be $981,” brokerage firm GoldCore Ltd. in Dublin said today in a note. “Failing that, we will revert to the current range of $905 to $960 an ounce.”
Jul 30 · 12:18:00 PM · Source: Bloomberg.com
Gold rose in New York and London after two straight declines as rising equity markets signaled increased willingness to take on risk, weighing on the dollar.
Gains in equities are a sign of “falling risk aversion,” which may reduce demand for the dollar, pushing gold higher, said Carsten Fritsch, a Commerzbank AG analyst in Frankfurt.
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