Gold for immediate delivery rose $1.40, or 0.2 percent, to $624.50 an ounce at 10:49 a.m. in London. Prices yesterday rebounded after a drop to $615.30 spurred jewelry demand, said James Moore, an analyst at TheBullionDesk.com in London.
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Gold Continues To Rise
Gold rose for a second day in London on speculation jewelers
Gold rose for a second day in London on speculation jewelers are building inventory in preparation for year-end holidays.
Demand from jewelers, the biggest buyers, rose 6.5 percent in the third quarter from the second quarter, figures yesterday from the World Gold Council showed. Their purchases in the fourth quarter last year including Christmas advanced 9.7 percent from the third quarter, the report showed.
Gold for immediate delivery rose $1.40, or 0.2 percent, to $624.50 an ounce at 10:49 a.m. in London. Prices yesterday rebounded after a drop to $615.30 spurred jewelry demand, said James Moore, an analyst at TheBullionDesk.com in London.
Gold for immediate delivery rose $1.40, or 0.2 percent, to $624.50 an ounce at 10:49 a.m. in London. Prices yesterday rebounded after a drop to $615.30 spurred jewelry demand, said James Moore, an analyst at TheBullionDesk.com in London.
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