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US gold futures for June delivery saw a $9-an-ounce increase on May 6, rising to $1,473.20, according to Reuters.
US gold futures for June delivery saw a $9-an-ounce increase on May 6, rising to $1,473.20, according to Reuters. The source notes that buyers have been enticed back to the market by the fact that gold prices have remained steady for the second week in a row.
Saxo Bank Vice President Ole Hansen said that prices have been faring well since the middle of last month, which is a good sign. Physical demand is expected to remain the same, while a shift in demand is likely to weigh in on prices.
Despite the fact that some believe there have been signs of improvement, gold futures in New York are still down 13 percent for the year, at $1,464.20 per ounce, according to Bloomberg Businessweek.
