Gold hovered just above its lowest level since 2010 on Monday, struggling to move higher as the market reckons the US Federal Reserve is moving closer to raising interest rates.
The Fed will hold a two-day meeting that ends on Wed
Gold has been flying off the shelves in Bahrain over the past week as the price of the precious metal plummeted, a report said.
Traders in Manama have reported up to a 15 per cent increase in sales, after prices hit five-year lows
Gold climbed towards a five-month high on Monday as an electoral win by Greece's anti-austerity party sparked fears of renewed instability in Europe, triggering safe-haven demand for bullion.
Greek leftist leader Alexis Tsipra
Gold struggled on Wednesday to hold near a 12-week high as a rout in commodities such as oil and copper took a toll on the metal, offsetting safe-haven bids arising from global growth concerns.
Oil added to losses on Wednesday to
Pension funds and global central banks will ensure gold remains a "robust" market in 2010 as they invest in the metal as part of their wealth preservation strategies, the World Gold Council said on Wednesday.
"Last year we saw a very notic
Gold dipped below $900 today (April 28), off a near four-week high hit the previous day, after the dollar gained against the euro and speculative buying sparked by fears of a global flu pandemic receded.
Investors shifted their attention t