Gold ticks lower as equities jump

- July 21st, 2010

On Wednesday,Gold edged down as investors shifted some of their money into firming equities, while a drop in ETF holdings could prompt more selling as bullion struggles to hold above $1,190 an ounce.

On Wednesday,Gold edged down as investors shifted some of their money into firming equities, while a drop in ETF holdings could prompt more selling as bullion struggles to hold above $1,190 an ounce.

The press release is quoted as saying:

Gold, which hit an intraday low of $1,188.35 an ounce, fell $2.60 to $1,188.80 by 0537 GMT (1:37 a.m. EDT). It dropped to a two-month low at $1,175.35 on Tuesday before rebounding sharply to above $1,190 on chart-based buying. Gold struck a record in late June on worries the European debt crisis would spread.

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