Gold Trades Above $1,800 per Ounce - 2011/09/01 20:22Hello, everyone! Gold steadied "in limbo" above $1,800 an ounce in New York as investors speculated over whether economic growth is stalling.
Reports yesterday showed U.S. business activity and factory orders expanded at a faster pace than economists forecast, while data this week may show U.S. manufacturing contracted for the first time in two years and employment slowed in August. The metal fell today as the dollar climbed to the highest level in almost two weeks versus the euro on concern that Europe’s sovereign-debt crisis may worsen.
Gold for December delivery fell $5.90, or 0.3%, to $1,825.80 an ounce by 8 AM on the Comex in NY. The metal reached a record $1,917.90 on August 23 and climbed 12% in August, its best monthly performance since November 2009. Immediate-delivery gold was little changed at $1,823.68 in London.
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