27
October
Gold steady on sluggish U.S. econ data
27 October 2010 Reuters
Gold edged lower on Wednesday as the market looked set to consolidate ahead of the U.S. Federal Reserve's decision on further monetary easing next week, while a stronger dollar also weighed.
Silver initially rose strongly after the U.S. futures regulator raised an alarm about the silver market on Wednesday. Delta-hedging -- where option granters buy to cover their exposure -- against the $24 strike, helped push spot silver to jump nearly 40 cents to $24.20 earlier in the day, traders said. Silver later retreated to $23.88.
