Wednesday, May 23, 2007

Gold inches up but weigh down by dollar's rise

(Reuters) - Gold crept up but stayed on the defensive on Thursday, pressured by technical selling after it failed to break an important chart level, with funds also keen to sell given the dollar's strength.

Gold moved in a tight range ahead of data on U.S. durable goods orders and new home sales later in the day, which should offer new leads to the dollar and precious metals.


Read more at Reuters Africa

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