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SPDR Gold Shares Message Board

  • nw2000_ca nw2000_ca Apr 26, 2013 12:58 PM Flag

    Bullion has now recovered about 75 percent of massive losses incurred between April 12 and 16.

    Sentiment, though buoyed, was still on an unsure footing with investors in exchange-traded funds heading for the exit, highlighted by further fund outflows on potential central bank sales and uncertainty over U.S. monetary stimulus.

    Spot gold hit its highest since April 15 at $1,484.81 an ounce, dipping to $1,463.25, down 0.3 percent, by 1547 GMT.

    U.S. gold futures for June delivery rose as high as $1,484.80 an ounce before slipping to $1,461.80, down 0.6 percent.

    "There has been some profit-taking, although ... poor (U.S.) Q1 GDP data missed the three percent target and that is encouraging for gold because the whole sell-off in the metal was linked to perceptions that the U.S. economy was getting stronger and stronger," Societe Generale analyst Robin Bhar said.

    Sentiment: Hold

 
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