Gold broke the $650-an-ounce mark several times last week but profit-taking pushed down prices, which have risen about nine percent since Jan. 5 when it fell to a two-month low.
Spot gold
Earlier on Tuesday it hit a high of $658.40.
Tuesday, February 06, 2007
Gold rose above $650 an ounce on Tuesday on firm oil and a slightly weaker dollar, and analysts said it could jump if it holds onto recent gains a bit longer.
Gold broke the $650-an-ounce mark several times last week but profit-taking pushed down prices, which have risen about nine percent since Jan. 5 when it fell to a two-month low.
Spot gold was quoted at $652.40/653.15 an ounce by 1630 GMT, higher than $649.00/649.70 late in New York on Monday, when it rose about $2 on renewed buying interest from funds.
Earlier on Tuesday it hit a high of $658.40.
Gold broke the $650-an-ounce mark several times last week but profit-taking pushed down prices, which have risen about nine percent since Jan. 5 when it fell to a two-month low.
Spot gold
Earlier on Tuesday it hit a high of $658.40.
