Gold News

Gold futures lifted higher by 'good fundamentals'

Gold futures started well on the New York Mercantile Exchange today (November 29th), with the rising oil price contributing to what experts have described as sound fundamentals for the metal.

A combination of the weak dollar, rumoured further cuts to Federal interest rates and fears of inflation on the back of higher fuel prices, have all acted in favour of gold investment, with the price remaining above $800 despite recent profit-taking.

Investors returned to buy gold this morning, with December delivery futures rising a full $1.70 to hit $802.0 per ounce on the New York Mercantile Exchange and help reverse some of Wednesday's slippage.

With the supply of gold now reportedly dwindling and riskier mining projects held back by the weak equity markets, experts have identified the necessary 'fundamentals' to be all in place.

Commodities website, said: "Overall, gold price fundamentals remain good and dollar fundamentals remain weak so that the medium-term outlook for the gold price is positive."


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