Gold Prices Up 1 Percent on Dollar Retreat, Short Covering Rally

Gold Silver Reports (GSR) – Spot gold was up 0.90 percent at $1,212.20 per ounce. This was the metal’s biggest one-day gain in nearly two weeks. Prices had slipped to their lowest since Oct. 11 at $1,195.90 in the previous session. U.S. gold futures settled up $8.70, or 0.72 percent, at $1,210.10 

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Gold Prices have fallen about 11%from its April Peak

Spot Gold Forecast

Gold Silver Reports (GSR) – Spot gold was little changed at $1,209.71 per ounce at 0431 GMT. On Friday, prices fell to their lowest since Oct. 11 at $1,206.13 per ounce. “Higher US interest rates and a stronger dollar are flashing red for gold investors,” said Stephen Innes, APAC trading head at OANDA in Singapore.

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Gold Prices Rise Today After 4-Day Fall

Gold Silver Reports (GSR) — Gold prices climbed Rs 80 to Rs 32,150 per 10 gram while silver ended Rs 150 higher at Rs 38,150 per kg. Gold prices were on a downtrend last week, falling Rs 620 over four days. On Saturday, gold fell by Rs 180 to Rs 32,070 per 10 gram.

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