Gold steadies near one-week high on dollar and physicals

- August 3rd, 2010

On Tuesday, Gold held steady near a one-week high as a weak U.S. dollar spurred early buying from investors, while jewelers were also expected to snap up the metal before festive seasons in India and Indonesia.

On Tuesday, Gold held steady near a one-week high as a weak U.S. dollar spurred early buying from investors, while jewelers were also expected to snap up the metal before festive seasons in India and Indonesia.

The press release is quoted as saying:

Spot gold was unchanged at $1,181.25 by 1:29 a.m. ET, after rising to a 1-week high of around $1,190 on Monday, partly driven by physical buying in Asia. The precious metal was well below a lifetime high of $1,264.90 struck in June.

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