From Chris Mullen at GoldSeek.com...
Gold reversed slight Asian gains in London on Monday, falling as much as $5.90 to $1210.40 an ounce.
The Gold Price then shot higher in late morning New York trade, ending near its early afternoon high of $1239.35 with a gain of 1.8%.
Euro gold rose to a new record high on Monday above €1035 an ounce as oil fell and the Euro dropped to a new four-year low under $1.19 on continued worries over sovereign debt.
May 12th saw gold priced in Dollars set its record closing high of $1242.70 an ounce, with a record intraday high of $1249.30.
US Treasury bonds fell Monday on worries over demand for this week's debt auctions, set to total $70 billion and beginning Tuesday with a $36 billion auction of 3-year notes.
The Dow, Nasdaq, and S&P fell over 1% on persistent worries about Europe.
Silver followed a similar pattern to Gold Prices on Monday, and ended near its late session high of $18.15 with a gain of 4.5%.
Platinum lost $5.90 to $1512.00, and copper fell over 5 cents to about $2.76.
Gold Mining and silver equities rose roughly 3% by early afternoon, before they fell back off a bit in late trade as the major indices dropped, but they still ended with about 2% gains.
New data showed US consumer credit expanding by $1 billion in April, vs. analyst forecasts of $2bn shrinkage and March's drop of $5.4bn.