Jewelry news update
Gold news, Gold price, Diamond price, Silver price, Precious metal news updates
Latest news updates from jewelry market, including gold news, precious metal industry updates, gold price, silver price, diamond price, industry trends on precious metals and more.
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Gold for December delivery receded $3.60, or 0.3%, to $1,237.70 an ounce on the Comex division of the New York Mercantile Exchange. Copper rallied nearly 3%.
Gold's pullback came after the metal hit a seven-week high on Wednesday, as fears of economic gloom supported gold and pushed silver to its best finish in eight weeks.
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Gold for December delivery added $4.90, or 0.4%, to $1,233.40 an ounce on the Comex division of the New York Mercantile Exchange. Bullion snapped a two-session losing streak.
Gold hit an intraday low of $1,211.70 earlier and spent most of its first hours of floor trading in the red.
The metal had entered a "shallow correction," but flight-to-quality buyers returned, said Adam Klopfenstein, a senior market strategist with Lind-Waldock in Chicago.
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Gold for December delivery added $3.10, or 0.3%, to $1,231.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold's fortunes changed about one hour before the end of trading, as prices had opened lower on profit-taking.
"[Gold] remains a global growth story," said Matt Zeman, an analyst at LaSalle Futures Group in Chicago. "We're seeing flight-to-quality trading going on and people coming back to gold."
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A number of artworks by Robert Waters - including several decorated with gold - have gone on show at the Mizuma Art Gallery in Tokyo.
In a review of the Man exhibition - which runs until August 14th - Marcus Bird of Tokyo Art Beat says that the display consists of images carrying double messages following debates such as nature versus nurture and violence versus healing.
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