(MENAFN- ProactiveInvestors - Australia) The price of an ounce of gold was firmer overnight on some short covering and potential bargain hunting as the yellow metal gained some renewed support as the Federal Reserve is expected to continue to prop up the economy - which gives support to gold.
It is worth reflecting on where the price of gold has historically traded, with the current ounce value down 5% from a month ago, and nearly 8% lower than a year ago.
Gold though is still very strong over the long-term, and is well up from the US$1000 mark five years ago and nearly four-times the US$400 an ounce a decade ago.
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