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Gold Watch: Choppy trade expected to continue
Posted on June 18, 2008
Gold for August delivery gained $6.60 to finish at $893.50 an ounce on the New York Mercantile Exchange. MarketWatch reports: Gold futures ended higher Wednesday, as rising oil prices and weakness in the U.S. dollar boosted demand for the precious metal. While choppy trade looks set to continue, gold has been showing some signs of fatigue and may look to test he bottom of the current $850-$920 range, wrote James Moore, an analyst at TheBullionDesk.com, in a research note. However, given the ongoing concerns over the health of the U.S. economy and rising inflation gauges globally, gold di...
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