US Gold futures seesawing since May, China demand strong


11/07/2012 14:54 AST  Commodityonline
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Since mid-May, the U.S. Comex gold futures prices have seesawed, climbing up one week, and declining the next. After the initial gold price surge of 4.6% from 28 June to 3 July, gold futures have dropped $42 to $1,579.8 as of Tuesday. Since 3 July, the broader risky markets also had not performed well: the S&P and the Stoxx 50 fell 2.4% and 3.4% respectively, the Euro/Dollar dropped 2.8%, and the CRB Commodity Index declined 1.4%. In contrast, the Dollar Index surged almost 2%, while the U.S. 10-year Treasury Bond rallied about 13bp.

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