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Friday, April 2, 2010

Gold Prices Drop Slightly

Gold Prices Down Slightly

Gold prices slipped from two-week highs on Friday as the euro eased after gaining against the dollar the previous day, with activity subdued due to Easter holidays in many Asian and most European markets.

As the global economic recovery becomes more evident, gold may come under pressure, with investors turning to other commodities which traditionally gain on strengthening industrial demand such as platinum and palladium, traders said.

"Gold will be seen as an underperformer when the economic outlook brightens, with investors showing more interest in other commodities which benefit from rising industrial demand," said Wakako Harada, a senior trader at Mitsubishi Corp in Tokyo.

Rest of gold prices story:

http://www.reuters.com/article/idUSTRE62H1MP20100402

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