Bullion Prices and Business July 2010 Review
Gold settled higher for a third day on Friday, as bargain hunters stepped in on expectations prices would ultimately rise following a 5.0 percent loss in July — the biggest monthly decline since December.
"People are trying to add to holdings of gold at a sale price," Zachary Oxman, managing director at TrendMax Futures, said and was noted on MarketWatch. "and I think you are seeing some long-term players adding to their net long holdings at a reduced price."
Gold prices picked up Friday morning after a government report showed that the U.S. economy lost momentum in the second quarter, renewing fears about the recovery. The yellow metal was also aided by a falling dollar…. Read the rest of Bullion Prices and Business July 2010 Review (1,319 words)
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