Gold's Dips Will Be Supported

Source:

According to FIN24, gold was still trading near two-week highs by the time the US market had opened on Tuesday and market watchers predict that dips would be supported.

Gold was still trading near two-week highs by the time the US market had opened on Tuesday and market watchers predict that dips would be supported.

In a daily note, Nedbank Treasury said that while gold had come off its previous two week highs, "the downside should, however, be capped by bargain hunters and on demand ahead of the Chinese New Year".

On Monday, John Meyer, a mining analyst at Numis in London, said that a weak US dollar in 2007 could drive gold prices higher.

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