RTTN: Gold Steady At 8-week High As Focus Turns To Bernanke, GDP
(RTTNews) - The price of gold was steady Friday morning ahead of second quarter GDP estimates from the U.S., due out later today.
Gold for December delivery, the most actively traded contract, was up $2.00 to $1,239.70 an ounce. Yesterday, gold oscillated between $1,246 and $1,235 before easing a marginal $3.60 an ounce.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,297.95 tons.
Meanwhile, the U.S. dollar was struggling for direction ahead of Federal Reserve Chairman Ben Bernanke's speech later today.
Elsewhere, the price of silver edged up and platinum ticked lower in morning deals.
Traders will look to second quarter GDP estimates from the U.S, due out later today, to get clues on the recovery of the economy.
