Gold gained today in New York after the prices touched the lowest level in almost three months, boosting appeal of the precious metal. Some economists say that glorious days of gold are over and it’ll be long time before we’ll see another surge of the prices. Other experts insist that the current decline is
The main supportive factor for gold prices is demand in Asia, particularly in China and India, which grew after prices fell. There are some religious holidays in India by the end of August, which may possibly fuel demand for gold jewelry.
December futures for gold delivery gained $1.80 (0.2 percent) to $1,163.60 by 11:05 on COMEX. Futures dropped yesterday as low as $1,160.80 per ounce, the most in more than three weeks, as a rally in global stocks damped demand for gold as an alternative investment.
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