Gold recovers as price drop fuels fresh demand

- July 7th, 2010

On Wednesday, Gold edged higher, rising back above $1,190 an ounce, as fresh demand emerged for the precious metal after its correction from recent record highs, which helped offset pressure from a firmer dollar.

On Wednesday, Gold edged higher, rising back above $1,190 an ounce, as fresh demand emerged for the precious metal after its correction from recent record highs, which helped offset pressure from a firmer dollar.

The press release is quoted as saying:

Spot gold was bid at $1,193.35 an ounce at 1352 GMT, against $1,191.50 late in New York on Tuesday. U.S. gold futures for August delivery were down $1.50 to $1,193.50.

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