Gold recovers after 5% fall

Market news

1 March 2012

Gold recovers after 5% fall

Gold prices rise as buyers returned to the physical market after a 5% reduction in price the day before.

On Wednesday, the spot price fell by 5% after the U.S. Federal Reserve Chairman Ben Bernanke gave no hint of the third round of quantitative easing, which was a key factor supporting prices.

On the physical markets in Asia jewelers, traders and investors have shown a violent activity after the price reduction of almost $ 100.

Stocks of the world's largest gold ETF-secured fund SPDR Gold Trust rose on Wednesday, more than 9 tons, the biggest increase since January.

March futures of gold on COMEX today rose to 1724.6 dollars per ounce.

European stocks closed in plus: FTSE 100 5,931.25 +59.74 +1.02%, CAC 40 3,499.73 +47.28 +1.37%, DAX 6,941.77 +85.69 +1.25%

US stocks holding gains: Dow 12,993.88 +41.81 +0.32%, Nasdaq 2,981.95 +15.06 +0.51%, S&P 500 1,371.56 +5.88 +0.43%

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