Gold Prices Hit New Highs, Dollar Gains

Chris Mullen of GoldSeek.com wraps up Monday's action...

Gold Prices climbed to a new record high Monday of $1607.13 at about 11:20am EST before falling back off a bit in the last couple of hours of trade, but still ended with a gain of 0.77%.  

Euro Gold Prices rose to a new record high at about €1139.

Silver Prices surged to as high as $40.69 and ended with a gain of 3.18%.

Gold and silver equities rose roughly 1.5% at the open and remained near that level for the rest of the day.

Platinum gained $17 to $1767, and copper remained at about $4.40.

Oil fell and the US Dollar rose as more debt problems in Europe that sent the Euro lower.

US Treasuries fell slightly while the Dow, Nasdaq, and S&P dropped on worries over debt problems.

Among the big names making news in the market Monday were Gannet, MGIC, Greenhill, News Corp., Morgan Stanley, and Allstate.

Tuesday at 8:30am EST brings Housing Starts for June expected at 570,000 and Building Permits expected at 609,000.

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