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Postby ankursinghal » Sat Jul 24, 2010 12:24 am

Gold prices move higher on good earning and economic reports

Gold prices moved higher on Thursday on getting strong corporate earnings and good economic reports from housing that pointed to a brighter economic outlook, increasing gold's investment appeal. Though, the trade remained cautious ahead of the European Banks stress test results.

Gold for August delivery settled up $3.80 at $1,195.60 an ounce after trading in a range of $1,180.70 to $1,201.20 an ounce on the Comex division of the New York Mercantile Exchange. Spot gold last traded at $1,195.15 an ounce, versus the previous session's late quote at $1,191.80 an ounce.
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