Gold rebounds on bargain hunting, weaker dollar - JB News Feed

Gold bounced back on Tuesday on a weaker dollar and bargain hunting after the metal dropped more than one percent the previous day.

A recovery in global equities and continuing tension in the Middle East attracted money from funds and investors, but analysts said the market would consolidate around current levels before marching higher.

Spot gold rose to $756.75/757.50 an ounce by 0959 GMT, compared with $752.90/753.70 an ounce in New York late on Monday, when it fell as low as $745.50. Gold rallied to a 28-year high of $770 last week.

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Posted by Posted by Jewelry News at Tuesday, October 23, 2007 7:58 AM
Categories: gold, Precious Metals
 

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