Gold News

Gold Ends Level After Mixed Trading Across World Markets

Gold traded mostly slightly higher in Asia before it began to fall off in London. The Gold Price then dropped to as low as $792.92 by late morning in New York, but it then rallied back higher in afternoon trade and ended with a loss of just 0.32%.

The Gold Price in Euros fell to about €556, platinum fell from its record high and lost $4 to $1512, palladium lost $3 to $353, and copper rose slightly to about $2.93.

Gold equities fell over 1% in the first hour of trade, but they then steadily climbed back higher for most of the rest of trade and ended mixed and near unchanged.

Friday brings Personal Income for November expected at 0.5%, Personal Spending expected at 0.7%, and Core PCE Inflation expected at 0.2%. At 10AM is the revised reading for December Michigan Sentiment expected at 74.5.

Oil fell slightly on economic concerns as Leading Indicators fell to a two year low and the Philadelphia Fed gave its lowest reading since April 2003.

The U.S. dollar index rose in technical trade despite mostly poor economic data that sent interest rates lower and treasuries higher.

The Dow and S&P ended slightly higher and the Nasdaq found impressive gains despite increased recession and credit worries as decent earnings reports drove select names higher.

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Adrian Ash

Adrian Ash, BullionVault Gold News

Adrian Ash is director of research at BullionVault, the world-leading physical gold, silver and platinum market for private investors online. Formerly head of editorial at London's top publisher of private-investment advice, he was City correspondent for The Daily Reckoning from 2003 to 2008, and he has now been researching and writing daily analysis of precious metals and the wider financial markets for over 20 years. A frequent guest on BBC radio and television, Adrian is regularly quoted by the Financial Times, MarketWatch and many other respected news outlets, and his views from inside the bullion market have been sought by the Economist magazine, CNBC, Bloomberg, Germany's Handelsblatt and FAZ, plus Italy's Il Sole 24 Ore.

See the full archive of Adrian Ash articles on GoldNews.

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