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- Gold prices rose sharply
Gold prices rose sharply
Gold prices rose, recovering from the previous day's two-week low against the currency, stock markets and other commodities, as well as uncertainty over against Spain.
European stocks recovered some lost ground after yesterday's violent protests in Spain and Greece, which were directed against the austerity measures.
Precious metals prices are on the way to the largest quarterly increase in more than two years, and has grown by almost 10%, after the Federal Reserve announced the third round of quantitative easing earlier this month.
Yield Spanish bonds today fell below 6%, as the uncertainty about the new budget a little alarmed investors.
Reserves of gold in exchange-traded funds, which issue securities backed by physical metal, fell from record highs, which were recorded yesterday by nearly 340,000 ounces.
Demand in India, which is a major consumer of gold, remains weak, as higher interest rates reduce the metal.
October futures price of gold on the COMEX is now 1764.40 an ounce.
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