Gold Regains Traction as Dust Settles After Cypress Deal

Reuters reported that gold regained some of the ground lost as the euro pulled back slightly after investor reaction momentum to the Cypress deal lost steam.

As quoted in the market report:

Gold hit its weakest since March 15 at $1,589.49 earlier. It was seen down 0.3 percent to 1602.91 an ounce by 1543 GMT. Prices were still on course for their first monthly gain however – standing around one percent higher on the previous month so far – after posting declines every month since October.

To view the whole Reuters report, click here.