Gold rose in early European trade today, hovering close to a 10-week high hit in the previous session, as a weak dollar supported prices.
"In the medium-term, gold does look a little overbought, but last week’s rally looks as if the bulls may test the next level of technical resistance at $693,40," a Standard Bank report said.
Spot gold stood at $683,00 an ounce in early trade, versus $682,90 late in New York on Friday, when gold touched $686,00, the highest since May 9.
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Gold Rose on Weak Dollar
Gold rose in early European trade today, hovering close to a 10-week high