Gold News

Gold Ends Tues at New Closing High as Stocks Fall, Dollar Rises with T-Bonds

From Chris Mullen at

Gold fell as much as $4.45 to $1244.65 an ounce in London on Tuesday before it jumped up to $1259.35 in early New York trade.

Gold Prices then fell back off into the close, but still ended with a gain of 0.7% and made a new record closing high. (Gold's record intra-day high of $1265.07 was made this past June 21st.)

The Gold Price in Euros rose to €988 an ounce.

The Silver Price fell to $19.53 and climbed to $19.98 before it fell back off in late trade and ended with a loss of 0.15%.

Platinum lost $1.75 to $1550.75, and copper fell a few cents to about $3.46.

Gold Mining and silver equities saw only modest gains as the strength in gold was offset by general market weakness.

Oil fell on renewed worries over banking and economic problems in Europe that sent the US Dollar index and Treasuries higher as the Dow, Nasdaq, and S&P fell about 1%.

There were no major US economic reports today, and there are none due out Wednesday.

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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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