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Commodity Daily News
Gold Continues to Climb amid Increase in Risk Taking
Thursday, 2 Feb 2012
Gold maintained its upward trend throughout the day yesterday, as positive euro-zone news led to an increase in risk taking in the market place. The precious metal touched the $1750 an ounce level before staging a mild correction later in the day.
Turning to today, the price of gold will largely be influenced by US news. Should the news result in further gains for the euro and other riskier currencies in late day trading, gold may be able to extend its recent bullish momentum. On the other hand, should US news come in better than expected, the dollar could see some gains which may cause gold to retreat to close out the week.
