| GEO Business|
Gold edges up, market still eyes record high
| Updated at: 1258 PST, Thursday, September 09, 2010|
LONDON: Gold edged up in thin European trade on Thursday as investors remained bullish about bullion's price prospects on the back of persistent worries about the health of the economy and banking sector, particularly in Europe.
However, risk aversion eased compared with earlier this week and traders said the metal could struggle to press ahead towards a fresh record high.
"The case for gold remains unchanged," said a Europe-based gold trader. "This week's news on European banks reminded everyone how fragile the sentiment is and that is not going to go away easily," he said.
Bullion had risen as high as $1,262.25 on Wednesday, not far from a lifetime high around $1,264 hit in June.