Gold prices booked two gains in a row Thursday and silver surged after the European Central Bank and Britain's central bank acted to protect the continent's staggering banks.
Gold prices rose nearly 1 percent Thursday on strong physical buying from Europe and Asia and diminished selling pressure that had arisen from the need to cover stock market losses.
Gold rose on Wednesday after dipping below $1,600 an ounce as stock markets appeared to have found their footing, but traders said the metal's correlation with volatile equities could trigger more selling.
Gold prices hovered in a tight range Wednesday as strong physical buying offset renewed optimism among stock investors that Europe might yet avert a sovereign debt-induced recession.
Gold fell more than 1 percent on Wednesday, extending the previous day's hefty losses, as rising equities diverted some interest from the precious metal, and as investors remained wary of buying into the market after its recent sharp volatility.
Gold prices turned lower on Tuesday, surrendering early gains as it was caught up in hefty losses across the financial markets due to heightened concerns over the prospect of a Greek default.
Gold prices will rise later this year and into next year, Goldman Sachs said Tuesday, in a note expressing relative optimism about the near-term prospects for the global economy.
Gold prices fell Tuesday, weighed down by panicking investors preparing for the fallout of a Greek sovereign debt default -- damage to European banks and falling business activity on the continent and perhaps the U.S. -- by dumping stocks and abandoning the euro and buying dollars.
Gold mining companies in the second quarter reported their first consecutive quarterly net hedging in 10 years, driven by new hedges by small producers, metals consultancy Thomson Reuters GFMS and French bank Societe Generale said on Tuesday.
Gold rose 1.6 percent on Monday, its biggest one-day gain in a month, as bullion resumed its role as a haven from turmoil following its worst monthly loss since the financial crisis in 2008.
Gold prices jumped Monday as growing pessimism over Europe's finance's drove investors out of stocks, the euro and industrial commodities and into the U.S. dollar and the yellow metal.
European Goldfields said an investment deal with Qatar Holdings will enable it to fully finance projects in Greece at a time when its options were narrowing due to fiscal and economic uncertainty in the country.
Gold prices will rise by less than previously expected, according to a new short-term forecast by Swiss bank UBS released Monday.
Gold retailers in the United Arab Emirates have to be more versatile with their products to avoid falling sales, a senior industry official said on Monday, defying retailers' complaints that the booming gold price has deterred customers.
Gold prices climbed more than 2 percent Monday, its third daily gain in a row, as Greece's draft budget confirmed the widely held vew that default is inevitable offset.
Gold prices hovered in a $35 range Friday, virtually spending the day unchanged, as investors fleeing sinking U.S. and European stocks divided their options between the greenback and the yellow metal.
Central banks' gold buying is lifting the price of the precious metal in a trend that analysts expect to continue even if widespread predictions of a price rise to $2,000 by year-end comes true.
Gold prices gained steadily if modestly Friday as demand from India and bargain hunting offset a resumption of investor flight to dollar liquidity.
Gold rose more than 1 percent on Friday but was on track for its biggest quarterly gain this year as concerns that the euro zone debt crisis was far from resolved weighed on stock markets and the euro, lifting interest in bullion as an alternative.
Gold prices rose on Thursday in choppy trade, with strong physical demand and gains in the euro lending support, but investors remained cautious towards the precious metal after this month's intense volatility.
Gold prices held steady Thursday after German lawmakers, by a surprisingly large majority, accepted a bigger financial burdern in bailing out weak Eurozone economies and strong Asian demand for physical gold offset a weaker dollar.
South African gold miner Anglogold Ashanti will invest $250 million each year through 2016 to raise its Brazilian output of the precious metal by two thirds, its chief executive said on Wednesday.
