Gold prices gain for the first time in 4 sessions

Gold futures ended higher on Thursday to tally their first gain in four sessions, as a recent price drop to a two-month low raised the precious metal’s appeal among bargain hunters.

Prices for the metal had been trading lower early in the session, and remains more than 4% lower for the week, with overall strength in the dollar contributing mightily to the deterioration in bullion.

Chintan Karnani, chief market analyst at Insignia Consultants, attributed the shift higher in prices to “a short covering rally” given the “oversold conditions.”

Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana.

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