Gold recovers as lower prices tempt buyers

On Wednesday, Gold rose above $1,160 an ounce in Europe as price-sensitive buyers were tempted back to the market by the previous day’s dip to three-month lows, with strong demand reported from major consumer India.

The press release is quoted as saying:

Spot gold was bid at $1,164.95 an ounce at 4:50 a.m. ET, against $1,159.65 late in New York on Tuesday. U.S. gold futures for August delivery rose $6.30 an ounce to $1,164.30.

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