Spot gold traded at $1811.47 an ounce, silver climbed to $40.10 an ounce

Gold prices advanced past $1810 an ounce mark in Asian trade Wednesday after its safe haven appeal skyrocketed on lingering debt crisis in Europe.

Spot gold was seen trading at $1811.47 an ounce at 1.00p.m Singapore time while US gold for December delivery was seen trading at $1815.16 an ounce on the comex division of Nymex.

Cash Silver climbed 0.8 percent to $40.10 an ounce. Spot Platinum gained 0.6 percent to $1,787.63 an ounce and Palladium advanced 0.6 percent to $720.75 an ounce.

Analysts are of the view that worries about a worsening euro zone debt crisis supported the safe-haven sentiment, while investors awaited the conclusion of a US Federal Reserve policy meeting for trading cues.

On Tuesday, Gold futures settled 1.7% higher as gold for December delivery added S30.20 to settle at $1,809.10 an ounce on the Comex division of the New York Mercantile Exchange.

Source : http://www.commodityonline.com/

Posted by VBN on Sep 22 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry