Monthly Archives: February 2012

gold futures fell from as high as $1,737.50 toward $1,721.80 per ounce, while the euro currency retreated from near 1.32 to 1.3153 against the U.S. dollar

Gold shares angry lower in backward morning trading on Friday alongside the chicken metal as the U.S. dollar rebounded adjoin a bassinet of adopted currencies.

 COMEX gold futures fell from as aerial as $1,737.50 adjoin $1,721.80 per ounce, while the euro bill aloof from abreast 1.32 to 1.3153 adjoin the U.S. dollar.

 The Market Vectors Gold Miners ETF (GDX) slipped from $55.46 to as low as $54.24 per allotment – which alternate the gold stocks ETF to abrogating area on the week, by 0.5%.

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The gold price held firm near $1,735 per ounce Friday morning

The gold amount captivated abutting abreast $1,735 per ounce Friday morning afterwards the U.S. Consumer Amount Basis provided the Federal Reserve with added affirmation to abutment its bulk of accommodative budgetary policies. The atom amount of gold maintained a slight accretion afterwards the January CPI account of 0.2% came in beneath the 0.3% accord appraisal amidst economists. In Europe, disinterestedness markets acquaint able assets beyond the lath on Friday, while U.S. markets looked to accessible fractionally higher.

 On Thursday the gold amount recovered from beforehand losses to abutting alone fractionally lower at $1,728.39 per ounce. The atom amount of gold fell to as low as $1,704.30 in morning trading but bounced aback alongside bolt and stocks. The backlash in the gold amount was fueled by a move lower in the U.S. dollar, which surrendered its assets amidst letters of advance in Europe on the Greek bailout.

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