Gold News

Gold rises as more economic gloom continues

Gold rises as more economic gloom continues

Gold is trading at $889 as of 10:58am, London time

Gold inched up to hold above $880 on Wednesday, extending gains from the previous session when it rebounded as investors sought shelter from what is expected to be another gloomy season of corporate earnings. Trade was quiet, however, with the Easter holiday approaching and jewelry demand weak even after the precious metal fell back below $900. Holdings at the world’s biggest gold-backed exchange-traded fund are steady, reflecting a slowdown in demand from long-term investors. Gold is trading at $889 as of 10:58am, London time.