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Coin Collecting NewsGold hits three-week high, awaits key U.S. data
LONDON, Sept 4 (Reuters) - Gold hit a three-week high on Tuesday, helped by safe-haven buying and good physical demand, with investors awaiting the release of U.S. economic data that may set bullion’s direction.
Brighter technicals and firm oil also lifted buying. Other metals also gained, with platinum rising to a three-week high and silver rising to its highest level in more than two weeks.
“Gold remains remarkably well bid despite some dollar strength. It is playing a little bit of safe-haven role, physical demand is excellent and production is looking pretty sloppy,” said David Holmes, director of precious metals sales at Dresdner Kleinwort Investment bank.
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