Gold Prices Close Sharply Higher After Early Slump
Source: RTTNews.com (10/4/07)
Gold prices soared again yesterday in U.S. trading, erasing some of its losses from earlier in the week. December gold added $8.10 to finish at $743.80 an ounce. Earlier, it had dipped to as low as $726.30, its lowest level in more than two weeks.
The metal rebounded as the greenback slipped against the euro on weak economic data in the U.S. After reaching a 10-day high against its European counterpart, the dollar dropped in the mid-morning. Last week, gold moved to a 27-year high as the greenback fell to a record low against the euro.