Gold gained as a speculation that Greece won’t receive an aid soon spurred a demand for the precious metal as an alternative to traditional currencies. Gold priced in the euro and the Swiss franc reached records, while the precious metal priced in pound jumped to almost
An increasing investors’ demand boosted sales of old jewelry and other scrap gold. Asia still provides steady consumer base for a physical selling.
Analysts say that gold needs to noticeably jump above the old highs to continue its rally. The metal must rise above the $1,160 level of previous resistance to attract more investors.
June futures for gold delivery in gained $6.90 (0.6 percent) to $1,160.90 per ounce by 10:49 on the Comex in New York. Highest level of $1,170.70 for gold prices in the year was reached on April 12th. Futures reached their
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