Gold News

Euro Gold Prices Hit Record High Amid Debt Worries, Silver Flat

From Chris Mullen at

Gold Prices jumped to $1518.55 shortly after the open of trade in Asia on Monday, before dropping back down to $1503.76 by a little after 8am EST. They then rallied to as high as $1515.28 in New York and ended with a gain of 0.39%.

Silver Prices surged to $35.42 in early Asian trade before falling back to $34.382 a little after 8am EST and then also bounced back higher in New York, but they still ended with a loss of 0.51%.

Euro Gold Prices climbed to a new all-time high at almost €1080.

Platinum lost $15.50 to $1747.50, and copper fell 13 cents to about $3.99.

Gold Mining and silver equities fell about 1.5% by late morning before they rallied back higher in afternoon trade, but they still ended with slight losses.

Oil fell as the US Dollar rose after renewed sovereign debt worries sent the Euro lower.

US Treasuries rose as the Dow, Nasdaq, and S&P fell over 1% on worries over Europe.

Among the big names making news in the market Monday were LinkedIn, J&J, and Yahoo.

There were no major economic reports.  Tuesday at 10am EST brings New Home Sales for April expected at 300,000.

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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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