Comex Gold Recovers Overnight DeclinesBy Allen Sykora of Kitco News
Monday August 29, 2016 11:52
(Kitco News) - Comex gold has recovered its early losses to trade near steady to slightly higher on the day. The recovery was aided as the U.S. dollar gave up some of its early gains, a trader reported. Early Monday, Comex December gold fell to a two-month low of $1,317.20 an ounce. Since, however, the metal has snapped back to $1,327.50, a gain of $1.60, as of 11:43 a.m. EDT. The euro was around $1.11743, nearly back to late-Friday levels after trading down to around $1.11712 as New York trading was getting under way. Activity may be quieter than normal as London markets are shuttered for a holiday. A trader says he looks for gold to largely trade in a range this week as the market awaits Friday’s key monthly U.S. jobs report.