Gold steady as consumers offset waning fear factor

- July 8th, 2010

On Thursday, Gold held above $1,200 an ounce, having recovered from six-week lows after consumers were enticed back into the market, although gains were likely to be tempered by improving optimism over the global economy.

On Thursday, Gold held above $1,200 an ounce, having recovered from six-week lows after consumers were enticed back into the market, although gains were likely to be tempered by improving optimism over the global economy.

The press release is quoted as saying:

Spot gold touched $1,203.65 an ounce by 0922 GMT (5:22 a.m. EDT), compared with $1,201.85 late in New York on Wednesday, when it hit a low of $1,185.05, its lowest since May 25 and around 6 percent below late June’s record high.

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