LONDON: Gold won today for the first time in five days on speculation investors will step up purchases after the worst week of the metal in six.
Gold rose 0.4 percent to $ 1,594.82 an ounce. Prices have fallen 1.7 percent this week, the most since June 22. Silver also rose 0.5 percent to $ 27.27 an ounce.
Bullion was down to $ 1,584.08 an ounce today, the lowest since July 25, after the European Central Bank has not issued immediate measures to stimulate a slowing economy.
The Federal Reserve refrained from increasing the monetary stimulus in a two-day meeting that ended on August 1, while indicating a weak economy may indicate additional measures to boost growth.
Prices reached a five-week U.S. $ 1629.35 on July 27 after ECB President, Mario Draghi, promised to do everything possible to protect the euro.
Gold rose 0.4 percent to $ 1,594.82 an ounce. Prices have fallen 1.7 percent this week, the most since June 22. Silver also rose 0.5 percent to $ 27.27 an ounce.
Bullion was down to $ 1,584.08 an ounce today, the lowest since July 25, after the European Central Bank has not issued immediate measures to stimulate a slowing economy.
The Federal Reserve refrained from increasing the monetary stimulus in a two-day meeting that ended on August 1, while indicating a weak economy may indicate additional measures to boost growth.
Prices reached a five-week U.S. $ 1629.35 on July 27 after ECB President, Mario Draghi, promised to do everything possible to protect the euro.
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