Gold rises in Asia

September 18, 2013

Gold Rises
Gold Rises

Gold hovered just above a five-week low on Tuesday as traders waited for guidance on when the US Federal Reserve will begin tapering its massive economic stimulus. Spot gold had risen 0.06 percent to $1,314.21 an ounce by 0613 GMT, after falling 1 percent in the previous session to a five-week low of $1,303.85. “The technical signals are neutral now, with strong support at $1,307,” Phillip Futures analysts wrote in a note. Silver rose nearly 1 percent after falling more than 2 percent on Monday. Courtesy Reuters

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