Gold News

Gold Drops Slightly, Silver loses 2.9%, Mining Equities Fall

From Chris Mullen at

THE Gold Price dropped down to $1532.49 by late morning Tuesday in New York before it bounced back higher midday, but it still ended with a loss of 0.33%. 

The Gold Price in Euros fell to about €1038.

Silver Prices slumped throughout most of the Tuesday and ended near its late session low of $42.375 with a loss of 2.93%. Both metals were falling further in after hours access trade as well.

Gold and Silver Mining equities fell throughout most of trade and ended with roughly 3% losses.

Platinum closed at $1850, and copper gained 6 cents to about $4.24.

Oil fell on worries over waning energy demand, while the US Dollar Index was almost unchanged and ended slightly higher on varying interest rate outlooks.

Treasuries rose as the Dow, Nasdaq, and S&P traded mostly slightly lower on weak earnings reports.

Among the big names making news in the market Tuesday were GM, Pfizer, MasterCard, Sears, and Deutsche Bank.

Wednesday at 8:15am EST brings the ADP National Employment Report for April, expected at 200,000, while at 10am is the Institute for Supply Management services report for April, expected at 57.4.

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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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