Gold Up, Set to Extend Gains to Sixth Session

Source:

"Gold futures climbed Friday, poised to extend their gains to a sixth session, as the prospect of fresh economic stimulus from the world's central banks underpinned demand."

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MarketWatch, Myra P. Saefong and Virginia Harrison

Gold futures climbed Friday, poised to extend their gains to a sixth session, as the prospect of fresh economic stimulus from the world's central banks underpinned demand.

Gold for August delivery added $8, or 0.5%, to $1,627.60 an ounce on the Comex division of the New York Stock Exchange. The metal is on track for a weekly gain of 2.3%.

Weak U.S. data coupled with troubles in Europe have stirred hopes of more monetary stimulus measures from global central banks.

"With the weekend upon us, market risks in gold and silver have heightened considerably as the outcome of the Greek election is uncertain, with the left-wing evenly matched with the right wing," said Julian Phillips, an editor at GoldForecaster.com and SilverForecaster.com. . .View Full Article

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