Gold Ends Higher On Economic Data, Stimulus Hopes: Report

By Midnight Trader,  August 08, 2012, 02:20:24 PM EDT

Gold futures ended mostly higher Wednesday on continued hopes of monetary stimulus and some positive productivity data from the U.S., RTT News reported.

While the dollar strengthened, the euro continued to struggle after some weak economic data out of Germany, which also triggered hopes of further quantitative easing to push economic growth and prop up the eurozone.

Gold for December delivery, the most actively traded contract, dropped $3.20 or 0.2% to close at $1,616.00 an ounce Wednesday on the Comex division of the New York Mercantile Exchange.

Gold for December delivery traded at an intraday high of $1,619.50 and a low of $1,605.90 an ounce.

Gold ended lower yesterday, after fluctuating for much of the day, mostly on selling pressure with a weak dollar.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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