Gold Update

clipped from www.reliancemoney.com nternational Gold to remain steady , June 29: Gold was faintly weaker than yesterday, though some physical interest was seen while silver is trading at $12.45 an ounce i.e. at yesterdays close. Caught between a strong dollar and high crude oil prices, spot gold traded at $647.80 an ounce while silver traded at $12.45 an ounce, which is also the yesterdays close. The U.S. Federal Reserve held benchmark interest rates steady at 5.25 percent on Thursday, but it restated that inflation is a major concern and that has led to speculation of higher rates, which has boosted the dollar. Crude oil was steady around $70 a barrel as the market remained focused on falling gasoline inventories in the United States and a decline in crude stocks. The markets are just recovering from the credit markets downturn recently, and have again have turned their attention back to traditional drivers such as dollar and oil.