Tue, 14 Aug 2012 00:00:00 +0200
Gold Maintains Earlier Gains
Despite a downward correction during Asian trading yesterday, gold was largely able to maintain last Friday's gains as risk taking among investors boosted commodities and precious metals throughout the day. Gold spent much of the day range trading, bouncing back and forth between $1625 and ounce and $1619. By the end of the European session, prices were stable at the $1620 level. Today, gold prices could see considerably more volatility as a batch of significant euro-zone and US data is set to be released. Traders will want to pay particular attention to the news out of the EU. Should any of it come in below the forecasted levels, investors may revert to safe-haven assets which could result in the price of gold falling.
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