Gold gained in choppy European trade on Thursday as a weaker dollar and bargain hunting lifted the metal closer to record highs.
Gold futures end slightly higher on Wednesday after hitting a record breaking high of $894.40 an ounce during morning trading as high oil prices and nervousness about the U.S. economy pushed the precious metal up for the second straight day.
U.S. gold futures finished above $880 on Tuesday after climbing to a record high, fueled by surging oil prices, a weakening dollar and tensions between the United States and Iran sparked demand for the precious metal.
Gold futures dropped on Monday, weighed down by a dip in crude oil prices and a strengthening U.S. dampening investors demand for the precious metal.
Gold drifted further away from its recent record highs on weaker oil prices and a rebound in the dollar, but analysts said on Monday that sentiment was positive.
Gold futures escalated to a new 28-year high on Thursday, increasing their gains after rallying more than $20 in the previous session as investors snapped up the precious metal on record breaking oil prices and amidst concerns of further tension in Pakistan, analyst said.
Gold prices fell on Thursday for the second straight day on a rising dollar, causing investors to lose interest in the precious metal, yet reinforcing confidence in steady U.S. economic growth.
Gold rallied on Tuesday to close about $800 an ounce on speculation that turmoil in credit markets will force the Federal Reserve to cut interest rates, further boosting the appeal of the precious metal.
Gold futures fell to a two-week low on Monday after the dollar rose against the Euro causing the precious metal to lose appeal for investors.
Gold futures fell for a second day on Friday, as the dollar rose to its highest level in seven weeks against other major currencies, causing investors to lose interest in the precious metal.
Gold futures dropped 2 percent on Thursday to trade under $800 an ounce after the dollar gained against most other major currencies, lowering investors’ interest in the precious metal.
Gold prices rose on Tuesday as investors anticipate a third cut in U.S. interest cuts for the year at the Federal Reserve's meeting taking place today which will likely send the dollar lower and boost appeal in precious metals.
Gold futures slipped on Thursday as crude oil prices recovered and the dollar continued its recent rally which boosted demand for the precious metal.
Gold futures fell on Wednesday, as the U.S. dollar gained following reports showing strong job growth, lowering demand for the precious metal.
Gold futures rose on Monday following a decline in last weeks trading as weakness in the dollar and falling crude-oil prices prevailed.
Gold futures dropped for the fourth straight day on Friday following a decline in crude-oil prices which reduced the demand for the precious metal.
Gold gained more than $6 an ounce on Friday as bargain hunting intensified after the U.S. dollar tumbled to record lows against the euro on expectations the Federal Reserve will slash interest rates next month.
Gold rose on Monday with oil prices, but the dollar's slight rally against the euro sapped momentum and capped gains below the $800 mark.
Gold prices slid on Thursday in choppy trade, giving up overnight gains on a rise in the dollar versus the euro and easing oil prices that dented bullion's role as a hedge against inflation.
Gold firmed on Wednesday, having briefly tested support below $800 per ounce, leaving investors nervy over the prospect of more falls from recent 28-year highs.
Precious metals raced higher on Tuesday, boosted by an ailing dollar and strong oil, with gold hitting 28-year highs, silver soaring to its best price in 27 years and platinum setting a record.
Gold retraced early losses to hit a 28-year high on Monday on flight-to-quality demand due to credit-market jitters, offsetting lower crude prices and a stronger dollar.
