Gold gains on firm euro but jewelers retreat

- July 27th, 2010

On Tuesday, Gold gained in a thin market driven by a firm euro and a technical rebound as prices briefly hit the 100-day moving average, while jewelry makers stayed on the sidelines after recent purchases.

On Tuesday, Gold gained in a thin market driven by a firm euro and a technical rebound as prices briefly hit the 100-day moving average, while jewelry makers stayed on the sidelines after recent purchases.

The press release is quoted as saying:

Spot gold added $1.05 to $1,184.80 an ounce by 11:36 a.m. ET as dealers shrugged off a slight decline in ETF holdings. Gold had fallen nearly $8 on Monday after strong U.S. home sales data dented its safe haven appeal.

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