Gold News

Gold Price ends Tuesday with Gain

Chris Mullen at 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%.

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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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