Gold News

Gold Prices Climb Again

Chris Mullen at GoldSeek wraps up Monday's action...

Gold Prices climbed to $1746 per ounce in Monday's Asian trade before falling as low as $1732.35 shortly after London opened. They then rose to as high as $1755.90 in New York and ended with a gain of 0.75%.  

The Gold Price in Euros fell to under €1215,

On Tuesday morning, Gold Prices hit $1775 shortly before 9am London time.

Silver Prices dropped as low as $38.822 in Asia on Monday, before rising to$39.603 in New York and ending with a gain of 0.77%.  

Silver and Gold Mining stocks rose over 2.5% by early afternoon and remained near that level for the rest of the day.

Platinum lost $1.75 to $1790, and copper gained a couple of cents to about $4.03.

Oil rose while the US Dollar fell as the Euro climbed higher after the European Central Bank announced a purchase of $32 billion of bonds last week, but the outlook is mixed ahead of Tuesday's meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy.

US Treasuries fell Monday as the Dow, Nasdaq, and S&P rose on M&A news.

Among the big names making news in the market yesterday were Transocean and Aker Drilling, Time Warner Cable and Insight Communications, Google and Motorola Mobility, Bank of America and Toronto-Dominion Bank, ConAgra, and Lowe's.

Tuesday brings Housing Starts, Building Permits, Export and Import Prices, Industrial Production, and Capacity Utilization.

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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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