Gold dips as rally loses steam

- August 31st, 2010

On Tuesday, Gold eased in Europe as a rally that took the precious metal to two-month highs last week ran out of steam, but ongoing concerns over the health of the financial markets supported prices near $1,235 an ounce.

On Tuesday, Gold eased in Europe as a rally that took the precious metal to two-month highs last week ran out of steam, but ongoing concerns over the health of the financial markets supported prices near $1,235 an ounce.

The press release is quoted as saying:

Spot gold was bid at $1,234.50 an ounce at 1210 GMT, against $1,236.66 late in New York on Monday. U.S. gold futures for December delivery fell $2.70 an ounce to $1,236.50.

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