Gold Finds Groove on Weak Durable Goods (Update 1)
"We could very easily see a month or two of volatility as nerves calm and the market consolidates from the slump that we saw in the last couple of weeks, but I think with that under our belt and as soon as we get some more positive news coming through we could see a lift," Neil Meader, head of precious metals research and forecasts at Thomson Reuters GFMS, said during a phone interview from London.
Among volume leaders, Barrick Gold (ABX - Get Report) climbed 7.5%. The company reported Wednesday that its first-quarter profit dropped 18% to $847 million, or 85 cents a share on revenue of $3.44 billion.
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