Gold Returns 2014’s Gains

Gold retained sharp overnight gains on Tuesday to trade just above $1,200 an ounce as a fall in the dollar boosted the precious metal’s appeal.  Spot gold was steady at $1,206.55 an ounce by 0034 GMT, while other precious metals edged higher for a second day in a row.

Gold gained 1.3 percent on Monday in its biggest one-day jump in two months, climbing back above the key $1,200-an-ounce level as the dollar fell on profit-taking after 12 straight weeks of gains.

Gold had fallen to $1,183.46 earlier on Monday – its lowest since June 2013 – as a strong U.S. jobs report had sent the dollar soaring to a four-year high.

CNBC

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