Gold News

Gold Price Steady, Silver Falls As Hopes Rise EU Will Support New Greece Bailout

From Chris Mullen at

The Gold Price fell to $1488.45 in Asia on Monday before it climbed to as high as $1504.30 in New York. It then fell back off a bit in the last couple of hours of trade and ended with a loss of 0.18%.  

The Silver Price fell to $34.03 in London before it rallied to as high as $35.285 in New York, but it also fell back off in late trade and ended with a loss of 2.6%.

 The Euro Gold Price fell to about €1050.

Gold Mining and silver equities rose over 2% by midmorning before they fell back off a bit, but they still ended slightly higher.

Platinum lost $13.50 to $1751.50, and copper rose a few cents to about $4.01.

Oil fell on easing worries over the impacts of flooding in the Gulf area.

The US Dollar fell as the Euro rose on hopes that the EU will support another bailout package for Greece.

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

Among the big names making news in the market on Monday were RIM, Nasdaq, Goldman Sachs, Lowe’s, and Yahoo.

Tuesday at 8:30am EST brings Housing Starts for April expected at 563,000 and Building Permits expected at 590,000.  At 9:15 is Industrial Production for April expected at 0.5% and Capacity Utilization expected at 77.7%.

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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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