Gold price which jolted the previous day to levels below $1700 and hit 11-month low witnessed some resilience and rebounded to $1717.8 per ounce as of writing this copy at 12:19 pm (IST). Though it is still trading weak. After striking to very low levels, gold on the previous day got a boost from a whole lot of factors namely bargain hunting, weak dollar index and the US-yield.
Further gold did not reacted to the hike in interest rates by the ECB which on Thursday increased rates by 0.5%. This was the first rate hike by the ECB. The move though triggered gains for the Euro currency, led the dollar currency to sell-off, pushing gold rates higher from the low levels.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.
