But the metal, which has climbed about six percent in the past three weeks, was expected to face technical resistance at around $645 an ounce, prompting some people to take profits.
Gold
Tuesday, January 23, 2007
Gold climbed on Tuesday to trade below a three-week high, as a drop in the dollar and firmer oil prices encouraged investors to build fresh positions.
But the metal, which has climbed about six percent in the past three weeks, was expected to face technical resistance at around $645 an ounce, prompting some people to take profits.
Gold hit a high of $637.50 ounce before easing to $636.90/637.90 by 1113 GMT, up from $632.60/633.60 in New York late on Monday, when prices rose as high as $639.60 -- the highest since Jan. 3.
But the metal, which has climbed about six percent in the past three weeks, was expected to face technical resistance at around $645 an ounce, prompting some people to take profits.
Gold
