From Chris Mullen at GoldSeek.com...
Gold Prices rose above $790 per ounce in Asia on Monday and held at about $792 in London before falling back off in New York trade.
The Gold Market still ended with a gain of 0.65% at a new 27-year high.
Silver traded as high as $14.457 ahead of the Wall Street open before it fell back to as low as $14.204 by late morning in New York, but it then rallied back higher into the close and ended with a gain of 1.06%.
Platinum remained unchanged at $1454, palladium lost $1 to $371, and copper fell slightly to about $3.57. Gold and silver mining equities rose over 2% at the open before they fell back to see abut 1% gains by late morning, but they then rallied back higher in afternoon trade and ended with roughly 2% gains at new all-time highs.
There were no major economic reports on Monday. Tuesday at 14:00 GMT brings the US Consumer Confidence report for October expected at 99.5.
In the broader markets, crude oil soared to a new record high above $93 as a supplier in Mexico was forced to halt production due to bad weather. Geopolitical tensions remained firm.
The US Dollar index fell to a new record low and Treasury bonds rose as traders looked ahead to Wednesday’s Federal Reserve announcement that is expected to see the Fed funds rate cut by at least 25 basis points to 4.50% or below.
The Dow, Nasdaq, and S&P rose despite that record high oil price on confidence of cheaper money to come.