Prices in the wholesale gold bullion market traded above $1,730 an ounce Friday morning in London, having earlier touched a two-week high, while stocks fell and the dollar and US Treasury bonds gained.
Spot market gold bullion hit a five-week high at $1,625 an ounce during Friday morning's London trading, on course for a weekly gain that would see the pattern of alternating up and down weeks stretched to week number eleven.
Wholesale gold bullion prices fell to $1,569 an ounce during Monday morning's London trading – 0.9% off Friday's close – as stocks, commodities and the euro also traded lower and US Treasuries gained, following news that two Spanish regions plan to ask for bailouts.
The US dollar gold price hovered above $1,580 an ounce during Friday morning trading in London – in line with where it has spent the last two weeks – while stocks and commodities ticked lower and US Treasuries gained.
Spot market gold prices dropped back below $1,600 an ounce Monday morning in London, having briefly risen above that level in Asian trading, as stocks and the euro also began the week strongly and US Treasuries fell following news that Spain is to receive a bailout.
Gold prices hit a one-month high at $1,640 per ounce ahead of Wednesday's US session – up more than 7% from May's low – while stocks, commodities and the euro also ticked higher and major government bond prices fell.
Wholesale market gold bullion prices dipped below $1,550 an ounce for the first time since December on Tuesday – a fall of 7% since the start of this month – before regaining some ground by lunchtime in London.
Wholesale market gold prices touched their lowest level since the first week of January Friday, hitting $1,574 an ounce before recovering some ground, while stocks and commodities fell and US Treasury bonds gained.
Gold bullion prices drifted down to $1.642 per ounce during Tuesday morning's London trading – though still slightly up on last week's close following gains in Asia – while stocks fell and commodities were flat.