Gold prices inched up to touch another record high on Wednesday but then succumbed to profit-taking and fell back to $1,140 per ounce on the view that recent rises had gone too far too fast.
Although technical charts suggest bullion is overbought, market players said the precious metal's long-term strength is seen intact, with the dollar expected to remain weak and amid worries about inflation and an uncertain economic outlook.
Tuesday, November 17, 2009
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