Gold News

Gold Price Edges Up, Silver Gains as Greece Worries Ease

From Chris Mullen at

The Gold Price fell $4.77 to $1532.83 by about 8:20am EST on Monday, before it rallied up to $1546.55 in early New York trade and then fell back off a bit in late morning trade. The Gold Price ended the day with a gain of 0.23%.  

The Silver Price dropped 47 cents to $35.26 before it surged to as high as $36.095 by about 9:30am EST and then also fell back off a bit, but it still ended with a gain of 0.78%.

The Euro Gold Price climbed to €1077.

Gold Mining and silver equities traded mostly slightly higher and ended with modest gains.

 Platinum closed at $1728.00, and copper fell a few cents to about $4.08.

Oil fell to a new 4 month low in early trade on worries over global energy demand, but it ultimately ended with a small gain on hopes that problems in Greece and the rest of Europe will be resolved soon.

The US Dollar fell against major currencies as the Euro rose on reassurance that a solution for Greece's debt problems will be implemented.

US Treasuries fell as the Dow, Nasdaq, and S&P rose on easing worries over Greece's debt.

Among the big names making news in the market Monday were JC Penny, Airbus, Boeing, and PNC and RBC Bank.

Tuesday at 10am EST brings Existing Home Sales for May expected at 4,790,000.

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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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