Tuesday, August 3, 2010

Gold Prices Find Support from China Today

With gold prices continuing to be down from their historic highs, even though they've risen slightly for four days in a row, investors are reentering the gold market looking for bargains, and the news China will expand their gold market brought them out in force today.

Both spot gold and gold for December delivery were up today, with gold for December delivery rising to $1,189.8 an ounce Comex division of the New York Mercantile Exchange.

At 12:38 PM EDT, spot gold hit $1,187.10, a gain of $5.10 an ounce.

The euro continues to rally today even as the U.S. dollar falls.

No comments: