Gold News

Gold and Silver Gain Roughly 1%

Gold traded mostly slightly higher in Asia, rose almost $10 in London, and popped to as high as $1215.13 at the open of trade in New York before it dropped back off a bit by late morning, but it then climbed back near its earlier high in the last minutes of trade and ended with a gain of 1.44%.  Silver climbed to as high as $18.095 by late morning in New York before it moderated its gains a bit in the last couple of hours of trade, but it still ended with a gain of 0.73%.

Euro gold rose to almost €947, platinum gained $11.50 to $1524, and copper gained 3 cents to about $3.28.

Gold and silver equities climbed over 2% by midday and remained near their highs into the close.

Treasuries remained lower after today’s $16 billion 30-year note auction drew a yield of 3.954% with a bid to cover of 2.77.

Chris Mullen is chief content manager of the GoldSeek family of websites, a leading source of gold news, comment and mining-stock data for private and institutional investors.

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