Bloomberg (Reported 7/02/2010)

“Gold climbed from a five-week low on demand for a store of value amid economic concerns in the U.S. and Europe.

U.S. employment fell in June for the first time this year, signaling a sluggish job-market recovery. Europe risks falling back into recession as nations such as Germany and the U.K. cut budgets sooner than expected, said Pacific Investment Management Co., which runs the world’s largest bond fund.” Gold Rises in Spot Market on Haven Demand Amid U.S., Europe Economic Woes

Reuters (Reported 7/02/2010)

“Gold prices rebounded on Friday on technical strength and bargain hunting after double-dip recession fears triggered the biggest losses in six weeks in the previous session.

Gold was supported by a stronger euro against the dollar ahead of the U.S. Independence Day long weekend, even as crude oil was on track to fall almost 10 percent for the week after a larger-than-expected decline in June U.S. nonfarm payrolls.” Gold rises after sell-off; ends week down 3.5 pct

MarketWatch (Reported 7/02/2010)

“Gold for August delivery added $1, or 0.4%, to settle at $1,207.70 an ounce on the Comex division of the New York Mercantile Exchange. Gold seesawed for much of the session, but found firmer footing on the later part.

Bullion lost 4% this week, its second weekly retreat and its biggest one-week loss since the five-day period ended May 21. Silver and copper weekly losses, meanwhile, hovered around 7%.” Gold ends with biggest 1-day drop since February

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