Gold News

Gold Prices Test $1800

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

Gold Prices fell throughout most of trade and ended near their late New York session low of $1808 per ounce with a loss of 2.48%. By the start of Tuesday morning London time, however, Gold Prices had recovered to around $1830

Silver Prices fell to as low as $40.08 and ended with a loss of 3.3%.

Euro Gold Prices fell to under €1334. 

Silver and Gold Mining stocks fell over 4% by midafternoon, but they then rallied back higher in late trade and ended with less than 3% losses.

Platinum lost $26 to $1801, and copper fell 4 cents to about $3.95.

Oil rose on OPEC’s forecast of strong demand from developing nations.

The US Dollar waffled near unchanged as worries about a Greek default were offset by rumors that China may buy Italian debt.

Among the big names making news in the market Monday were Bank of America, Broadcom, Citigroup, Berkshire Hathaway, Maxim Healthcare Services, McGraw-Hill, and Technip.

Tuesday at 8:30am EST brings Export and Import Prices for August and at 2pm is the Treasury Budget for August expected at -$132.0 billion.

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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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