Gold prices very seen on a bright note

[gnutrade.satya]

Gold prices very seen on a bright note as there were concerns over the economic recovery firmly underpinning prices and adding to this there was technical support as well.
RBS Global Banking & Markets analyst Daniel Major said: "I think gold is going to struggle, provided we don't get another bout of extreme risk aversion. We are going into the weakest period for jewelry offtake, and high and volatile prices in local currencies are likely to compound any seasonal weakness. From that point of view, there is not going to be much support from the physical market."
Credit Agricole analyst Robin Bhar said: "Demand for gold as a safe haven and an alternative currency remains, though maybe not in the heightened way it was a few weeks ago."The August contract for gold was up $8 at 1,230.20.