Yellow metal advances above $1,100 threshold

Source: WBP Online
© Scanpix/Reuters
Gold rallied above the $1,100 level on Thursday, despite the investor bearish outlook on the precious metal, as they believe the Dollar will continue to appreciate. The bullion futures advanced 0.9% to $1,101.9 an ounce by 8:10 AM GMT. On Monday, the yellow metal traded as low as $1,080 an ounce, the lowest level in five years. According to ABN Amro, gold prices will slip to around $1,050 by September this year. 
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