(MENAFN- Khaleej Times) Gold and silver rose for the first time in four days, rallying from the lowest since August 2010, as investors weighed the Federal Reserve's stimulus plans and bullion holdings in the top exchange-traded product held steady.
Gold has lost 23 per cent since the start of April, heading for a record quarterly loss, after Fed Chairman Ben S. Bernanke said last week the central bank may slow asset purchases if the economy continues to improve.
"Overnight gold has seen a retracement higher, with risk trading a bit better," said Saeed Amen, an analyst at Nomura International Plc in London.
Bullion for immediate delivery rose 0.9 per cent to $1,237.60 an ounce by 10:03am in London, after plunging to as low as $1,222 on Wednesday, the lowest since August 24, 2010.
Silver for immediate delivery gained 1.1 per cent to $18.7515 an ounce.
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