29th November 2011
Gold remained steady today (November 29th) after posting a significant positive gain in commodity trading yesterday.
According to Reuters, spot gold prices were quoted at $1,714.60 this afternoon - a rise of 0.16 per cent - while yesterday saw a boost in the price of two per cent after more investors decided to put their money into the safe haven commodity.
"If you have a look further out for the next six or even 12 months, we think gold is very well supported around its current levels," Commerzbank analyst Daniel Briesemann told the news provider.
He added that more buyers are likely to find gold attractive at its present levels.
The latest Gold Demand Trends report from the World Gold Council recently revealed the third quarter of the year saw demand for gold rise, with overall demand for the quarter standing at $57.7 billion - an all-time high for the three-month period.
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