London Gold Market Report |
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Gold Recovers One-Third of "Summer Slump"; No New Mining Supply Below $1,200 per Oz THE SPOT PRICE OF GOLD BULLION rose yet again in London on Thursday, touching $840 an ounce just ahead of the Wall Street open and recovering almost one-third of the 21% plunge witnessed since mid-July. " Gold is still capped by the big resistance at $846," reckons Peter Tse at Scotia Mocatta in Hong Kong, speaking earlier to Reuters. "I don't think much will happen ahead of the long US [Labor Day] weekend."
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