GOLD 0.51% $1,391.7 gold futures

(Reuters) - Gold prices rebounded on Tuesday from a sell-off in...

  1. 216 Posts.
    (Reuters) - Gold prices rebounded on Tuesday from a sell-off in the previous session, as the sovereign debt crisis in Europe remains supportive of safe-haven demand in bullion.

    FUNDAMENTALS

    * Spot gold gained 0.6 percent to $1,824.09 an ounce by 0025 GMT, after shedding more than 2 percent in the previous session.

    * U.S. gold rose 0.8 percent to $1,827.60.

    * Heightening fears of a potential Greek debt default hammered the euro and equities on Monday, and sparked a sell-off in gold as investors took profit off their gold bets to cover losses in other markets.

    * But bullion remains supported by demand from investors fleeing riskier assets during economic turmoil.

    * U.S. Treasury Secretary Timothy Geithner makes a one-day trip to Poland this week for an unprecedented meeting with euro zone finance ministers.

    * China's central bank said the country's inflation, though easing in August, was still too high and it would maintain its monetary policy settings. High inflation is likely to benefit the country's demand for gold, seen as a good inflation hedge.
    http://www.reuters.com/article/2011/09/13/businesspro-us-markets-precious-idUSTRE78401J20110913
 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.