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Gold Continues Up On Political Tensions.
U.S. gold futures rose toward session highs by midmorning on Thursday, bolstered by ongoing investment buying due to bullishness on gold's long-term prospects after prices hit a 25-year peak Wednesday. Gold closed at $679 on Thursday.
Silver prices rebounded after falling as much as 8 percent in the previous session's bout of profit taking, while
Gold market players said they were keeping a close eye on energy markets, currencies and U.S. economic data for inspiration.
Even though precious metals values technically are sharply overbought, geopolitical tensions including worries over Iran's standoff with the West are still helping to underpin prices.
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