GOLD CONSOLIDATES AFTER
REGISTERING 6.6% RISE IN FIRST QUARTER
Date: 02/04/2012
After registering a 6.6 percent
rise in the first quarter, gold prices showed signs of consolidation on the
first day of the second quarter as investors remained on the sidelines, lacking
any significant catalyst to open fresh bets. Downside in the yellow metal
prices remained capped after reports showed better than expected rise in
Chinese manufacturing activity while the weakness in US dollar too made the
precious metal cheaper for overseas investors.
www.goldennifty.com
Gold futures for June delivery
eased 0.1% to $1,670.20 an ounce on the Comex division of the New York
Mercantile Exchange, whereas the spot gold prices edged down $0.44 to $1,668.33
an ounce. www.goldennifty.com
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