Investing.com - Gold prices rose slightly in Asia on Wednesday in a rebound from overnight and expected demand as holidays ramp up demand and China markets re-opening after a week-long holiday.
On the Comex division of the New York Mercantile Exchange, gold for December delivery traded at $1,210.20, up 0.03%.
Overnight, gold futures swung between small gains and losses.
Also on the Comex, silver for December delivery rose 0.20% to $17.220 a troy ounce.
Elsewhere in metals trading, copper for December delivery gained 0.08% to trade at $3.036 a pound. Prices hit a six-month low of $2.985 on Oct. 2.
Market players also looked ahead to the release of minutes from the Fed's September meeting on Wednesday, after upbeat U.S. employment data last week underlined optimism over the strength of the economy and fuelled expectations that the central bank will begin to raise rates sooner and faster than previously thought.
Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise.
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Gold prices gain in Asia on rebound, holiday demand eyed
Published 10/07/2014, 06:22 PM
Updated 10/07/2014, 06:24 PM
Gold prices gain in Asia on rebound, holiday demand eyed
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