Spot gold rebounded around 0. 8% from a sharp slide off the record high in the prior session, as the metal's appeal remained undimmed to investors keen to seek safety throughout a period of heightened worry about the Eurozone's debt crisis.
FUNDAMENTALS
* Place gold traded up 0. 6% to $1, 874. 89 an ounce through 0033 GMT (0603 IST), easing from an intra-day high of $1, 879. 69. It hit an archive high of $1, 920. 30 then slid as much as $60 in the earlier session.
* US gold gained 0. 3% to $1, 877. 90, from the all-time high of $1, 923. 7 struck on Tuesday.
* Gold tumbled on Tuesday following the Swiss National Bank shocked the market by setting an exchange rate cap about the soaring franc, discouraging investors to use the currency as a safe destination.
* The strong rebound in gold showed that appetite for the rare metal has hardly been dented, as investors anxious about Eurozone's fiscal health are appear to make use of the price dip to build up positions.
* The dominant US services sector acquired steam unexpectedly last month, snapping a three-month streak of slower
growth, though a slower pace of hiring underscored concerns concerning the broader job market.
* Holdings in the world's largest gold-backed exchange-traded account, SPDR Gold Trust, have not changed since August 30, at 1, 232. 314 tonnes.
MARKETPLACE NEWS
* Wall Street fell for a third day on Tuesday on fears Europe still has didn't tackle its debt crisis, prompting worries the market is headed to new lows for that year.
* The dollar retained gains against the Swiss franc on Thursday, after the Swiss National Bank jolted markets by setting a limit how much the franc can gain.
FUNDAMENTALS
* Place gold traded up 0. 6% to $1, 874. 89 an ounce through 0033 GMT (0603 IST), easing from an intra-day high of $1, 879. 69. It hit an archive high of $1, 920. 30 then slid as much as $60 in the earlier session.
* US gold gained 0. 3% to $1, 877. 90, from the all-time high of $1, 923. 7 struck on Tuesday.
* Gold tumbled on Tuesday following the Swiss National Bank shocked the market by setting an exchange rate cap about the soaring franc, discouraging investors to use the currency as a safe destination.
* The strong rebound in gold showed that appetite for the rare metal has hardly been dented, as investors anxious about Eurozone's fiscal health are appear to make use of the price dip to build up positions.
* The dominant US services sector acquired steam unexpectedly last month, snapping a three-month streak of slower
growth, though a slower pace of hiring underscored concerns concerning the broader job market.
* Holdings in the world's largest gold-backed exchange-traded account, SPDR Gold Trust, have not changed since August 30, at 1, 232. 314 tonnes.
MARKETPLACE NEWS
* Wall Street fell for a third day on Tuesday on fears Europe still has didn't tackle its debt crisis, prompting worries the market is headed to new lows for that year.
* The dollar retained gains against the Swiss franc on Thursday, after the Swiss National Bank jolted markets by setting a limit how much the franc can gain.