Gold News

Gold Price Sets New Record NY Close

Chris Mullen of wraps up Tuesday's action...

The Gold Price traded in a tight range during Tuesday's Asian and London trading, but it then moved steadily higher in the last few hours of trade in New York and ended with a gain of 0.27% at a new record closing high of $1616.20.  

The Euro Gold Price fell to about €1115.

Silver Prices briefly dipped back under $40 in New York before they too rallied back higher in late trade and ended with a gain of 1.14%.

Silver and Gold Mining stocks waffled near unchanged and ended mixed.

Platinum gained $16.75 to $1804, and copper gained over 7 cents to about $4.47.

Oil rose as the US Dollar fell on continued worries about the lack of a deal on the deficit.

US Treasuries remained higher after Tuesday's $35 billion 2-year note auction sold at a high yield of 0.417% with a bid to cover of 3.14.

The Dow, Nasdaq, and S&P traded mostly slightly lower on worries over debt.

Among the big names making news in the market Tuesday were American Apparel, UPS, Chrysler, 3M, Ford, and Books-A-Million and Borders.

Wednesday at 8:30am EST brings Durable Goods Orders for June expected at 0.5%.  Excluding transportation, orders are still expected at 0.5%.  At 2pm is the release of the US Federal Reserve's Beige Book for July.

Buying Gold? Make it safer, cheaper and easier with BullionVault...

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.

See the full archive of Chris Mullen articles


Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals