April 14, 2010
Gold (GC-FT1,153.900.500.04%) prices rose in Europe on Wednesday as a fresh push higher in the euro added to positive sentiment in the market, with technical indicators pointing to the prospect of further price gains.
Other precious metals also rose, with palladium (PA-FT543.4021.604.14%) hitting a new two-year high at $543.50 (U.S.) an ounce as investors bet supply would fail to keep pace with a demand recovery this year.
Spot gold was bid at $1,159.15 an ounce at 0927 GMT, against $1,150.15 late in New York on Tuesday. U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange rose $6.70 to $1,160.10 an ounce.
This article was posted: Wednesday, April 14, 2010 at 9:39 am