GOLD SHOWS SIGNS OF CONSOLIDATION AFTER OVER 3 PERCENT
RALLY IN PREVIOUS WEEK
Date : 27.02.12
After rallying over
three percent in the previous week, gold prices
are showing signs of consolidation in Asia trades on Monday. Lingering
concerns over European debt trouble have kept investors cautions thereby
capping the upside in bullion prices however, the spike up in crude oil prices due to geopolitical tensions between the nuclear
ambitious Iran and the West have limited the downside for the yellow metal.
Gold futures for
April delivery largely remained unchanged at $1,777 an ounce on the Comex
division of the New York Mercantile Exchange, whereas the spot gold prices
slipped 0.3% to $1,774.94 an ounce. www.goldennifty.com
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