Gold News

Gold Prices End Thursday Near Flat, Dollar & Oil Both Fall

From Chris Mullen at

Gold Prices climbed to as high as $1530.89 on Thursday in Asia, before falling back to $1515.18 in London and then rallying back to $1525.85 at about 9am EST. Gold Prices then fell to a new session low of $1514.53 by midmorning in New York and ended with a loss of 0.27%.  

The Gold Price in Euros fell to about €1078.

Silver Prices climbed to as high as $38.833 and dropped to as low as $36.29 before bouncing back higher, but they still ended with a loss of 0.72%.

Gold Mining and silver equities waffled near unchanged and ended mixed.

Platinum lost $4 to $1770.50, and copper rose slightly to about $4.11.

Oil and the US Dollar both fell on Thursday's disappointing economic data.

US Treasuries extended higher after Thursday's $29 billion 7-year note auction sold at a high yield of 2.429% with a bid to cover of 3.24.

The Dow, Nasdaq, and S&P reversed early losses and ended higher on hopes that Europe's debt problems will be resolved.

Among the big names making news in the market Thursday were Big Lots, Morgan Stanley, Yahoo, Citigroup, and BofA.

Friday brings Personal Income and Spending, Core PCE Prices, Michigan Sentiment, and Pending Home Sales.

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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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