Gold edges up near $1067 in Asian trade
Tuesday, 9 February 2010
SINGAPORE, Feb 8 (Commodity Online): Gold recovered in Asian trade Monday mainly after the dollar edged down against major currencies.
Gold for immediate delivery was seen trading at $1066.38 an ounce at 11.30 am while gold futures for April delivery was at $1,067 per ounce at the same time.
Analysts said the precious yellow metal also gained on a technical bounce when investors sold commodities on worry about fiscal stability in Greece and the broader euro zone.
On Friday, spot gold fell to $1,043.75, its lowest since November 2 before settling at $1,066.35 per ounce while Gold for April delivery fell $10.20 to settle at $1,052.80 a fine ounce.
Gold for immediate delivery was seen trading at $1066.38 an ounce at 11.30 am while gold futures for April delivery was at $1,067 per ounce at the same time.
Analysts said the precious yellow metal also gained on a technical bounce when investors sold commodities on worry about fiscal stability in Greece and the broader euro zone.
On Friday, spot gold fell to $1,043.75, its lowest since November 2 before settling at $1,066.35 per ounce while Gold for April delivery fell $10.20 to settle at $1,052.80 a fine ounce.