Gold News

Gold Prices Dip Below $1800, US Stocks Up on Hurricane Relief

From Chris Mullen at

Gold Prices fell in Monday's early New York trade to as low as $1778.78 per ounce by about 10:15 am EST, but then bounced back higher in the last few hours of trade and ended with a loss of just 0.36%. Gold Prices on Tuesday morning were hovering around $1796 as London opened.

The Gold Price in Euros fell to about €1233 on Monday.

Silver Prices dropped to as low as $40.415 before rebounding, but still ended with a loss of 1.12%.

Silver and Gold Mining stocks waffled near unchanged and ended slightly lower.

Platinum lost $4.75 to $1816.25, and copper dropped a penny to about $4.09.

Oil rose on better than expected economic data that raised demand expectations.

The US Dollar ended slightly lower against major currencies on lingering worries about a recession.

US Treasuries fell as the Dow, Nasdaq, and S&P rose on relief over minimal damage from Hurricane Irene.

Among the big names making news in the market Monday were Donaldson Co., Samsung, and Bank of America.

Tuesday at 9am EST brings the Case-Shiller 20-city Index for June expected at -4.7% and at 10AM is Consumer Confidence for August expected at 52.0.

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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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