Monday, July 9, 2007

Gold off high before Bernanke, but supported by oil

(Reuters) - Gold eased from a one-month high on Tuesday as traders lightened their positions ahead of a key speech by the Federal Reserve chairman, but its falls were limited due to stronger oil and industrial metals prices.

By 0326 GMT, spot gold was trading at $659.70/660.50 an ounce, slightly down from $660.80/661.60 late in New York on Monday, when the metal rallied to its highest since June 7 at $662.80 an ounce because of a weak dollar and surging oil prices.


Read more at Reuters Africa

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