7
September
Gold gives up early gains, econ worries support
7 September 2010 Reuters
Gold edged down on Tuesday as early buying subsided and the euro slipped against the U.S. dollar, but volatile stock markets could encourage some investors to shift to bullion.
Gold could challenge its lifetime high of around $1,264 an ounce touched in June as the outlook for the global economy remained murky and demand from jewelers steady during the festive season in main consumer India, said dealers.
Spot gold eased 20 cents to $1,249.35 an ounce by 0525 GMT, having hit an intraday high of $1,251 on light physical buying. U.S. gold futures for December delivery were unchanged at $1,251.1 an ounce.
