Wednesday, January 24, 2007

Gold struggles to keep gains, off 7-week high

Gold gyrated in a tight range on Thursday, showing signs of fatigue after rising to its highest in more than seven weeks the previous day due to firmer crude oil.

Gold met selling pressure from investors in Asia, including those in China, after it failed to crack stubborn resistance at$650 an ounce. Other precious metals firmed but silver dropped after touching its highest since mid-December at $13.26.

Read Full article at Reuters South Africa

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