Chris Mullen at GoldSeek wraps up Thursday's action...
Gold Bullion prices soared to a new record high of $1826 per ounce by about 10am EST on Thursday, before falling back off a bit in the last few hours of trade, but they still ended with a gain of 1.64%. The spot market Gold Bullion price was up to $1866 shortly before 9am London time.
The Gold Price in Euros also jumped to a new record high above €1271 per ounce.
Silver Bullion prices climbed to as high as $40.858 and ended with a gain of 0.87%.
Silver and Gold Mining stocks fell throughout most of trade and ended with about 2% losses.
Platinum gained $0.50 to $1835.25, and copper fell 6 cents to about $3.97.
Oil fell as the US Dollar index and US Treasuries rose on reinforced worries about the global economy – worries that sent stock markets lower:
- The Dow closed down 3.68%
- The Nasdaq closed down 5.22%
- The S&P closed down 4.46%
Among the big names making news in the market Thursday were HP, MGM, AOL, and BofA.
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