Gold News

Gold and Silver Prices Gain, US Dollar Closes Lower

From Chris Mullen at GoldSeek.com...

THE GOLD PRICE climbed as much as $15.88 to $1519.08 by a little after 8am EST on Tuesday. It fell back off a bit in early New York trade, but then rallied back higher midday and ended near its earlier high with a gain of 0.9%.  

The Euro Gold Price rose to about €1056.

Silver Prices surged to as high as $38.703 before dipping a bit, but they still ended with a gain of 3.63%.

Gold Mining and silver equities traded mostly slightly lower and ended with modest losses.

Platinum gained $8.50 to $1792.50, and copper gained a few cents to about $4.03.

Oil rose on strong Chinese crude imports and worries that flooding may impact refinery operations.

The US Dollar reversed early gains and ended lower on uncertainty over Greece.

US Treasuries remained lower after Tuesday's $32 billion 3-year note auction sold at a high yield of 1.000% with a bid to cover of 3.29.

The Dow, Nasdaq, and S&P rose on Microsoft’s large purchase of Skype.

Among the big names making news in the market on Tuesday were Microsoft and Skype, Google, and Bank of America.

Wednesday at 8:30am EST brings the Trade Balance for March expected at -$47.7 billion and at 2PM is the Treasury Budget for April expected at -$41.0 billion.

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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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