Gold Remains Close to a 3 ½ Month High

The price of gold remained close to a recent 3 ½ month high throughout European trading yesterday, as speculations about future ECB steps to combat the euro-zone debt crisis kept prices elevated. After reaching as high as $1644.85 an ounce during early morning trading, the precious metal took moderate losses later in the day and was trading just below the $1640 level by the evening session. Today, gold traders will want to continue monitoring developments out of the euro-zone, which still have the potential to create market volatility. In addition, should US news during afternoon trading lead to an increase in risk taking, gold could see additional gains.

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading. ForexYard