FXstreet.com (Barcelona) - The gold contract for August delivery rose to a new intraday high of $1248.80 directly following a rosy Chicago PMI result which saw manufacturing dip slightly yet less than expected. Since the gold bullion has consolidated slightly below, but still trades higher on the day at $1242.00 a troy ounce.
Gold has fluctuated today as investors weigh optimistic news from the euro-zone with depressing private-sector jobs results from the US. So far both Wall Street and the European equities are remaining by-and-large flat, failing to find direction due to the differing indicators. With uncertainty still lingering throughout the marketplace, the price of gold remains supported until investors have good enough reason to jump back into riskier trading.
