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MarketWatch reported the drop in the price of gold, down by 0.6% to $1,612.60 an ounce. With the absence of market-moving headlines during the quiet summer months, gold volume tends to be low and tends to track commodity prices.
MarketWatch reported the drop in the price of gold, down by 0.6% to $1,612.60 an ounce. With the absence of market-moving headlines during the quiet summer months, gold volume tends to be low and tends to track commodity prices.
As quoted in the press release:
Prices for the yellow metal have recently moved higher on hopes that more central-bank action and monetary stimulus will be forthcoming. Fundamentally, however, not all is well for gold.
Analysts at Barclays Capital commented:
While concerns over inflation and potential monetary easing bode well for gold, the metal is missing the support of a solid floor. Physical demand has shown signs of life, but remains fragile as India enters the seasonally strong period for consumption.
