Gold consolidates on mkt uncertainty
Friday, 18 June 2010
SINGAPORE, June 17 (Commodity online): Gold prices consolidated positions in Asian trade Thursday on market uncertainty as equity markets and euro movements failed to give any directions for investors.
Gold for immediate delivery was seen trading at $ 1231.84 an ounce at 11.30 am Singapore time while US gold futures for August delivery was at $ 1235.06 an ounce.
The euro consolidated below two-week highs Thursday, with most investors on the sidelines ahead of a raft of bond auctions in the euro zone area as fresh concerns about Spain's banking system weigh down on sentiment.
Gold for immediate delivery was seen trading at $ 1231.84 an ounce at 11.30 am Singapore time while US gold futures for August delivery was at $ 1235.06 an ounce.
The euro consolidated below two-week highs Thursday, with most investors on the sidelines ahead of a raft of bond auctions in the euro zone area as fresh concerns about Spain's banking system weigh down on sentiment.