Gold News

Gold Price, Silver Price Steady, Euro Rebounds

From Chris Mullen at

The Gold Price climbed as high as $1527.60 by a little after 10am EST on Tuesday, before it fell back off a bit in the last few hours of trade, but it still ended with a gain of 0.53%.  

The Silver Price surged to as high as $36.395 before it too fell back off, but it still ended with a gain of 0.86%.

The Euro Gold Price climbed to a new all-time high above €1080, 

Silver and Gold Mining equities rose over 2% in the first half hour of trade before they fell back off a bit midday, but they then rose to new highs in the last couple of hours of trade and ended with about 2.5% gains.

Platinum gained $7.25 to $1754.75, and copper climbed a couple of cents to about $4.01.

Oil rose on bullish price forecasts as the US Dollar fell on the Euro's rebound from yesterday's sharp fall.

US Treasuries turned higher after today’s $35 billion 2-year note auction sold at a high yield of 0.56% with a bid to cover of 3.46.

The Dow, Nasdaq, and S&P were near unchanged on lingering worries over Europe.

Among the big names making news in the market on Tuesday were Chrysler, Moody’s, Sony, AIG, Yandex, Toyota, and Caterpillar.

Wednesday at 8:30am EST brings Durable Goods Orders for April expected at -2.0%. Excluding transportation, orders are expected at 0.6%.

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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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