GOLD PRICES SHOWS MIXED TREND ON MONDAY
DATE: 03/07/2012
Future gold prices eased, while spot gold inched up, in a see-saw trade on
Monday as investor’s eyed on monetary easing by the Federal Reserve followed by
weak US manufacturing data, increased yellow metal’s investment appeal. The
bullion lost traction as U.S. manufacturing sector dripped in June for the
first time in three years as new orders shrunk and as investors trimmed their
long bets on the bullion's prices. Also, as dollar gained.
Gold futures for August-delivery dipped by $6.50 or 0.4% at $1,597.70 an
ounce, on the Comex division of the New York Mercantile Exchange. While, spot
gold was surged by 20 cents at $1,597.19 an ounce.
POWERED BY: SMC ONLINE NEWS
www.goldennifty.com
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