Gold dips after stress test, risk appetite rises

- July 26th, 2010

On Monday, Gold softened, losing some of its safe-haven appeal after a European banks stress test showed no nasty surprises, but physical buying offered support as levels below $1,200 an ounce attracted bargain hunters.

On Monday, Gold softened, losing some of its safe-haven appeal after a European banks stress test showed no nasty surprises, but physical buying offered support as levels below $1,200 an ounce attracted bargain hunters.

The press release is quoted as saying:

Spot gold traded at $1,186.95 an ounce by 8:25 a.m. ET from $1,189.05 late on Friday. In the previous session gold briefly crossed $1,200 before falling sharply.

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