Gold News

Gold Prices Dip, Silver Up As Euro Rises On Greece Hopes

From Chris Mullen at

Gold Prices fell $3.80 to $1532.00 by a little after 8am EST Tuesday before shooting up to $1540.35 by midmorning in New York, but they then fell back off in the last two and half hours of trade and ended with a loss of 0.06%.  

Silver Prices surged almost a dollar to as high as $38.75 in London before falling back to $37.955 by about noon EST. They then rallied back higher in late trade and ended with a gain of 1.14%.

Euro Gold Prices fell to about €1067.

Gold Mining and silver equities waffled near unchanged and ended with slight gains.

Platinum gained $31.25 to $1826.25, and copper remained at about $4.18.

Oil rose as the US Dollar fell on optimism over a deal to bring additional aid to Greece that sent the Euro higher.

US Treasuries rose along with the Dow, Nasdaq, and S&P as poor economic data was offset by relief over an apparent deal to tackle Greece's debt problems.

Among the big names making news in the market Tuesday were Ashland, Nokia, BMW, and Apple.

Wednesday at 8:15am EST brings ADP Employment for May expected at 170,000 and at 10am is the ISM Index for May expected at 57.6 and Construction Spending for April 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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