Gold ekes out a small gain after seesawing most of the session

08:46, June 23, 2010      

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Gold futures on the COMEX Division of the New York Mercantile Exchange inched up after fluctuating for the most of the session on Tuesday. Silver and platinum both climbed.

The most active gold contract for August delivery eked out a 10- cents gain, to finish at 1,240.8 U.S. dollars.

The National Association of Realtors on Tuesday showed a 2.2 percent decline on sales of existing homes in May, while economists had expected an increase, which has drove down gold price with other commodities, as investors worried that too much weak economic data may raise the specter of deflation in the U.S. economy.

Gold received some support prior to the close and ended the day barely unchanged as dollar softened, gold also attempted to go higher earlier in the session, as its drop on Monday, which was its worst one-day decline since mid-May attracted some new buyers on Tuesday, but most of the price surge were short-lived. The inaction reflected the investors indecisiveness before the Federal Reserve's interest rate decision on Wednesday

July silver was up 9.4 cents, or 0.5 percent, to settle at 18. 902 dollars per ounce, July platinum rose 2.7 dollars, or 0.2 percent, to settle at 1,593.0 dollars per ounce.

Source:Xinhua

(Editor:黄蓓蓓)

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