MF Global Inc. Trustee James Giddens declared the liquidation of MFGI "essential complete" after gaining approval of a final 95% distribution to allowed unsecured creditors on top of the 100% distribution ($6.9 billion) for customer claims.
After trading sideways for several sessions, gold bullion jumped above $1,590 an ounce for the first time this month Tuesday morning in London, in what analysts called a "technical" move after gold broke through a key level following remarks from Bundesbank President Jens Weidmann.
The dollar gold price drifted back below $1,650 an ounce Wednesday morning, 1.1% down on the week so far, although it jumped higher in Sterling following after a Bank of England report said policymakers are prepared to "look through" persistently high U.K. inflation.
Spot market prices for gold bullion rose to a two-week high above $1,680 an ounce Tuesday morning in London, before dipping back to just below that level before lunchtime, while stocks and commodities were slightly down on the day and the US dollar ticked higher.
The spot gold price hovered above $1,660 per ounce Wednesday morning in London, slightly up on the week so far, before dropping through that level ahead of US trading. Gold buying in India meantime slowed Wednesday, dealers report.
Wholesale gold bullion prices drifted lower to $1,680 an ounce by the end of Thursday morning in London, having rallied to a two-week high yesterday following news of the deal to avert the so-called fiscal cliff in the U.S.