Gold prices saw a recovering day with worries about Europe's debt

[gnutrade.satya]

Gold prices saw a recovering day with worries about Europe's debt woes underpinning sentiment after Fitch downgraded Spain's credit rating. Darren Heathcote, head of trading at Investec Australia in Sydney said: "There is a chance for some wild movements if you get a bit of volume come in, but for the time being I wouldn't expect too much, adding that bullion would be looking at currencies for direction."
The August contract for gold was at $1,205.5 an ounce, $1.10 higher.