Gold Prices Hold Firm After Second Weekly Gain


06-May (Reuters via CNBC) — Gold edged higher on Monday, with some buyers tempted back to the market after a second week of gains suggested last month’s price slide to a more than two-year low has run its course for now.

The precious metal rebounded quickly after coming under pressure on Friday from data showing U.S. employment rose more than expected in April, which eased concerns over the U.S. recovery and dampened talk that further monetary easing may be necessary.

Gold fell more than $25 an ounce from its highs on Friday, but recovered to end the week higher.

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