Gold Prices Rally After Dip, Dollar Falls While Stock Markets Gain
From Chris Mullen at GoldSeek.com...
Gold Prices climbed $8.85 to $1523.75 in Asia on Tuesday before falling in London to a $2.95 loss at $1511.95 by about 9am EST. They then rallied back higher in New York and ended with a gain of 0.57%.
Silver Prices fell to as low as $34.408 in early New York trade before they too rallied back higher into the close and ended with a gain of 1.61%.
Euro Gold Prices fell to about €1052.
Gold Mining and silver equities rose about 2% in the first hour of trade and remained near that level for the rest of the day.
Platinum lost $1.25 to $1790.50, and copper gained 12 cents to about $4.15.
Oil rose on decent economic data in China and the US.
The US Dollar and US Treasuries fell on better-than-expected retail sales news that sent the Dow, Nasdaq, and S&P higher.
Among the big names making news in the market Tuesday were Best Buy, HP, BofA, JPMorgan, Ericsson and Telcordia, and JDS Uniphase.
Wednesday brings CPI, Empire Manufacturing, Net Long-Term TIC Flows, Industrial Production, and Capacity Utilization.
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