Gold and silver prices extended last week s rise in London trade Monday, gaining after hedge funds and other speculators in Comex futures and options cut their bearish bets but gold ETFs led by the GLD shrank again
Gold prices rose Monday, extending last week s rebound, as the US Dollar fell and speculators raised their bets that the Fed will raise by only half-a-point in September as recession fears grow
GOLD PRICES traded in a narrow range near multi-month lows on Monday as the US Dollar held at 20-year highs on the currency market and speculative traders cut their bullish position on Comex gold contracts to a 3-year low, writes Atsuko Whitehouse at BullionVault. Investors in gold-backed ETFs also cut their holdings further last week after the sector showed net outflows for May and June.