Spot gold rebounded on Tuesday, as a decline of more than 2 percent in the previous session attracted some buyers, while worries about debt crises in both the US and the euro zone are expected to keep sentiment fragile.
US lawmakers abando
More than 450 delegates comprising CEOs, industry leaders and bankers from local and international markets are expected to participate in an upcoming conference on gold and precious metals in Dubai.
The eighth Dubai City of Gold Conference
The outlook for the precious metals market remains extremely bullish, primarily as a consequence of the ongoing Eurozone crisis, said an expert.
There are a range of compelling reasons to believe that the future price outlook for precious
China's gold imports may exceed 400 tonnes this year and investment demand for the precious metal was seen reaching 300 tonnes from around 200 tonnes in 2010, a senior executive at metals consultancy GFMS said on Thursday.
Damas, the leading jewellery and watch retailer in the Middle East, has acquired the remaining 10 per cent share capital of its existing joint venture operation in Damas Kuwait.
The move increases Damas’ stake in Damas Kuwait to 100 per ce
Investors forsook gold exchange traded funds in the first quarter in favour of coins and bars, the World Gold Council said, with buying of physical investment products helping lift overall bullion demand by 11 per cent.
The WGC said ETFs r
Gold was undermined on Monday by the dollar's rise against the euro on uncertainty about aid for indebted euro zone countries, which also sparked some safe-haven buying of the precious metal.
Spot gold was bid at $1,490.14 a troy ounce
Silver steadied on Wednesday, after its largest one-day slide in over a month the previous day, while gold profited from a weaker dollar which came under pressure ahead of a US Federal Reserve interest rate decision.
The Fed is not expecte
Spot silver surged more than 5 per cent to top $49 ounce on Monday, moving closer to its 1980 all-time peak lifted by a weak dollar and strong physical demand in Asia that also sent gold to a record high for a seventh consecutive session.
Jewellery traders in Bahrain have reported a rush of people trying to sell gold, after the precious metal reached an all-time high.
However, some shops are turning people away because they have no money to spend after two months of unrest