Gold hovers near $1129 in Asia
Wednesday, 16 December 2009
SINGAPORE, Dec 15 (Commodity Online): Gold prices remained higher in Asian trade Tuesday ahead of a crucial Fed meet scheduled for later Tuesday.
Bullion prices firmed as the dollar stayed weak on improved risk tolerance after concerns eased about Dubai's debt woes.
Spot gold was seen trading at $1128.75 an ounce at 11.30 a.m Singapore time, up 0.2 per cent from New York's notional close of $1,126.20. It hit a four-week low of $1,109.10 on Friday.
US gold futures for February delivery rose 0.5 per cent to $1,129.50 per ounce. Futures were also off about $100 from a record peak of $1,227.50 hit on Dec. 3.
On Monday, February delivery rose $3.90 to settle at $1,123.80 an ounce while Silver for March delivery advanced 25 US cents to $17.340 an ounce. Copper for March delivery settled 1.9 cents higher at $3.1520 a pound.
Bullion prices firmed as the dollar stayed weak on improved risk tolerance after concerns eased about Dubai's debt woes.
Spot gold was seen trading at $1128.75 an ounce at 11.30 a.m Singapore time, up 0.2 per cent from New York's notional close of $1,126.20. It hit a four-week low of $1,109.10 on Friday.
US gold futures for February delivery rose 0.5 per cent to $1,129.50 per ounce. Futures were also off about $100 from a record peak of $1,227.50 hit on Dec. 3.
On Monday, February delivery rose $3.90 to settle at $1,123.80 an ounce while Silver for March delivery advanced 25 US cents to $17.340 an ounce. Copper for March delivery settled 1.9 cents higher at $3.1520 a pound.