The price of gold jumped more than 2 percent on Monday to touch its highest level since June, extending last week's sharp gains, as sliding stock markets and worries over global economic growth prompted investors to seek safety in hard asset
Gold hit a four-week low on Monday, extending a sell-off into a fourth straight session as technical signals deteriorated and investors fretted that the Federal Reserve would raise US interest rates this year.
The metal failed to
Gold bounced back above $1,100 an ounce on Thursday from the previous session's five-year low, as a retreat in the dollar prompted some investors to take advantage of the price drop to buy back into the market.
Many remained w
Gold edged up from a five-year low on Thursday as the dollar weakened, but the modest gains suggest bearish investors are still hovering in the market after an early-week rout led to bullion's deepest loss in nearly two years.
Gold fell on Wednesday for a seventh session in eight, reflecting sustained downward pressure on the metal days after its steepest drop in almost two years, with more losses seen ahead as the demand outlook dims.
A looming hike in
Gold rose on Monday to its highest level in a month because of weakness in the dollar and a further decline in oil prices which sparked safe-haven bids for the precious metal.
The dollar dipped after an unexpected fall in US wages
Gold edged down on higher shares on Wednesday, but was poised to end 2014 steady around $1,200 an ounce as the impact of a stronger dollar was offset by demand from investors worried about tensions in Russia and political uncertainty in Greece.
Gold prices could tumble towards $800 to $900 an ounce, not seen since the 2008/2009 financial crisis, metals merchant and hedge fund Red Kite warned even as the precious metal extended losses to a second session on Tuesday.
Struggling gold producers plan increasingly drastic measures such as scrapping dividends, cutting jobs, halting projects and shutting mines to survive the latest price plunge, but not all of them will make it.
Gold tumbled to a mo
Gold prices fell to a nine-month low on Thursday as the dollar rose to four-year highs against a basket of currencies and stock markets strengthened.
Platinum fell to its lowest since June last year, sliding below $1,300 an ounce,