16th August 2012
Gold prices continue to remain high even though investors are now having second thoughts about future economic stimulus.
Traders often view gold as a safe haven if central banks begin quantitative easing programmes and as a result the precious metal has been bought and sold above $1,600 an ounce for some time now has been.
Recent data from the US suggests that the Federal Reserve may now not need to act, but gold is still holding up well
During the early sessions today (August 16th), spot gold still creped up 0.1 per cent to $1,604.41 after it hit a ten-day low of $1,589.69 in the previous session, reports Reuters.
While US gold futures for December delivery remained stable at $1,606.90.
Investors will have further indication of future Fed action later today with the publication of the US housing starts and unemployment data.
Its policy-setting panel is set to meet next month.
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