Gold News

Gold Price ends Tuesday with Gain

Chris Mullen at GoldSeek.com wraps up Tuesday's action...

The Gold Price reversed overnight gains and fell to as low as $1795.45 by a little after 4am EST on Tuesday, but it then rallied back higher in London and New York and ended with a gain of 0.91%.  

The Silver Price also fell, dropping as low as $40.023 by a little after 7am, but it then climbed to as high as $41.181 by early afternoon in New York and ended with a gain of 2.42%.

The Euro Gold Price fell to about €1331, 

Silver and Gold Mining stocks traded slightly lower for most of the morning, but they then rose in afternoon trade and ended with modest gains.

Platinum gained $4.25 to $1805.25, and copper rose slightly to about $3.96.

Oil rose and the US Dollar fell as the Euro climbed higher on relief over the perceived easing of debt problems in Europe.

US Treasuries extended lower after today’s $21 billion 10-year note auction sold at a high yield of 2.000% with a bid to cover of 3.03.

The Dow, Nasdaq, and S&P traded mostly slightly higher on relief over Europe.

Among the big names making news in the market Tuesday were H&R Block, SAP, Best Buy, HP, Pimco, BNY Mellon, and Broadcom.

Wednesday at 8:30am EST brings PPI for August expected at 0.0%, Core PPI expected at 0.2%, and Retail Sales for August expected at 0.2%.  Excluding autos, sales are expected at 0.3%.  At 10AM is the Business Inventories report for July expected at 0.5%.

Buying Gold?...

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