Gold continues to watch dollar and oil

Gold was slightly firmer in afternoon trade today on the back of a weaker dollar.

At 14h34, spot gold was quoted at US$465.50 a troy ounce from an overnight close of $463.05/oz, while the euro was bid at $1.2022 from $1.2015 late yesterday.

A London-based analyst told I-Net Bridge that gold is continuing to watch the dollar and oil price.

"I think gold is vulnerable at the moment and could touch lower levels, which will prove healthy in a long run, while retaining its long-term bullish trend outlook," the analyst added.

Platinum was quoted at US$914.00/oz from a close of $915.oz, while palladium was quoted at $194.50/oz from a previous $192.00/oz.

Source:  Business Report