GOLD CONSOLIDATES AFTER REGISTERING 6.6% RISE IN FIRST QUARTER
Date: 02/04/2012
After registering a 6.6 percent rise in the first quarter, gold prices showed signs of consolidation on the first day of the second quarter as investors remained on the sidelines, lacking any significant catalyst to open fresh bets. Downside in the yellow metal prices remained capped after reports showed better than expected rise in Chinese manufacturing activity while the weakness in US dollar too made the precious metal cheaper for overseas investors. www.goldennifty.com
Gold futures for June delivery eased 0.1% to $1,670.20 an ounce on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices edged down $0.44 to $1,668.33 an ounce. www.goldennifty.com
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