GOLD
ADVANCES ABOUT 0.5% ON DOLLAR WEAKNESS
DATE: 28/05/2012
Gold prices advanced by around half a percent on the week’s
first trading session as the American dollar weakened against euro. Investors
drew some comfort from opinion polls showing parties favoring Greece's bailout
programs could be able to form a coalition government. However, the gains in
yellow metal prices was limited amid Spain's deteriorating finances as Standard
& Poor's cut Spanish bank's credit rating to junk status because of
deepening uncertainty over its restructuring plans.
Gold futures for June
delivery advanced 0.4% to $1,575 an ounce on the Comex division of the New York
Mercantile Exchange, whereas the spot gold prices inched up 0.1% to $1,575.31
an ounce.
POWERED BY: COMMODITY
INSIGHTS
www.goldennifty.com
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