×
77 488
Fashion Jobs
KOHLS
Loss Prevention Associate - Weekend Overnights
Permanent · DeSoto
NORDSTROM
Retail Stock - Oakridge Rack
Permanent · San Jose
NORDSTROM
Project Manager 2 - Credit & Payments - Hybrid
Permanent · Centennial
NORDSTROM
Asset Protection - Agent - King of Prussia Rack
Permanent · King of Prussia
ESTÉE LAUDER
Keyholder - Cosmetic Company Store - 20 Hrs - Las Americas Premium Outlets - San Diego,CA
Permanent · San Diego
ESTÉE LAUDER
Executive Director, Global Consumer Engagement - Bobbi Brown
Permanent · New York
ESTÉE LAUDER
Area Manager - 3rd Shift Distribution
Permanent · Bristol
ESTÉE LAUDER
Manager, Education, Events & Community Ambassador dr.Jart+
Permanent · New York
ESTÉE LAUDER
Keyholder - Cosmetics Company Store - 20 Hrs - Waterloo Premium Outlets - Finger Lakes,NY
Permanent · Finger Lakes
NEWELL
Key Account Manager
Permanent · ATLANTA
NEWELL
Associate Manager, Procurement Coe
Permanent · NORWALK
BALLARD DESIGNS
Stock Specialist
Permanent · DENVER
BALLARD DESIGNS
Design Consultant
Permanent · DENVER
TIFFANY & CO
Branch Security Officer - Bal Harbour
Permanent · Bal Harbour
URBN
fp Movement Stylist
Permanent · ATLANTA
URBN
Anthropologie Junior Art Director- Video
Permanent ·
URBN
Free People Movement Buyer
Permanent · PHILADELPHIA
URBN
Free People Movement Wholesale Buying Manager
Permanent · PHILADELPHIA
URBN
Free People Movement Senior Account Executive Department Stores
Permanent · NEW YORK
URBN
Free People Senior Merchandise Planner
Permanent · PHILADELPHIA
URBN
Amis Trattoria | General Manager
Permanent · DEVON
URBN
Free People Movement Creative Design Director
Permanent · PHILADELPHIA
By
Reuters
Published
Jul 27, 2010
Reading time
2 minutes
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Gold gains on firm euro but jewelers retreat

By
Reuters
Published
Jul 27, 2010

(Reuters) - Gold gained on Tuesday in a thin market driven by a firm euro and a technical rebound as prices briefly hit the 100-day moving average, while jewelry makers stayed on the sidelines after recent purchases.


Photo: Corbis

Investors are turning their attention to a series of U.S. data that may set the tone for prices, which have dipped more than 6 percent after surging to a record $1,264.90 in early June. Silver also firmed, while strong equities underpinned platinum.

Spot gold added $1.05 to $1,184.80 an ounce by 11:36 a.m. ET as dealers shrugged off a slight decline in ETF holdings. Gold had fallen nearly $8 on Monday after strong U.S. home sales data dented its safe haven appeal.

"I think definitely what we see is a bit of indecision now. I think we do need new impetus for people to go into gold and for people to be concerned about the economy again," said Ong Yi Ling, an investment analyst at Phillip Futures in Singapore.

Still, "I don't foresee it dropping below $1,175," said Ong, referring to a two-month low hit last week.

U.S. gold futures for August delivery rose $1.1 to $1,184.2 an ounce ahead of the release of data on U.S. consumer confidence for July, ICSC chain stores and the S&P/Case-Shiller 20-city home price index.

The Nikkei inched up on Tuesday, drawing support from robust earnings at home, a pickup in U.S. new home sales and gains in U.S. stocks following an upbeat outlook from FedEx. .T .N

SPDR Gold Trust (GLD.P), the world's largest gold-backed exchange-traded fund, said its holdings fell to 1,301.742 metric tons by July 26 from 1,302.046 on July 22. The holdings hit a record at 1,320.436 metric tons on June 29.

"Honestly, I can't find any buying whatsoever. Everybody is on the sidelines because the price is not high enough to sell, and not low enough to buy. It's neither here nor there," said a physical dealer in Singapore.

"I saw some buying from India yesterday but there's nothing much after that," he said.

Gold demand in top consumer India is set to pick up ahead of the busy festival season, starting with Raksha Bandhan on August 24, and extending till Dhanteras in November, the single biggest gold buying day.

The euro held near a two-month peak against the dollar but there was caution ahead of earning reports by some European banks, including Deutsche Bank (DBKGn.DE), which has not revealed its exposure to Southern European countries in the wake of the publication of stress test results.

(Editing by Manash Goswami)

© Thomson Reuters 2023 All rights reserved.