GOLD PRICES EASES AFTER 3% RALLY
DATE: 02/07/2012
gold prices ticked lower on first trading day of the quarter, ending its biggest one-day rally in a month on friday as initial enthusiasm over european deal to prop up its debt-laden members dwindled .the yellow metal eased in line with euro and oil prices as investors remain conscious about the effective tackling of euro zone crisis. the bullion investment appeal went down as the precious metal largely moved in tandem with riskier assets since late last year due to the tight credit conditions caused by the euro debt crisis.
gold futures for august-delivery settled down by 0.7% to $1,593.20.an ounce, on the comex division of the new york mercantile exchange. while, spot gold dropped by 0.3 % to $1,592.51 an ounce.
POWERED BY: SMC ONLINE NEWS
www.goldennifty.com
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