Gold Ends Tues 0.9% Higher as Euro, Oil Hit New Record Highs vs. Dollar
From Chris Mullen at GoldSeek.com...
Gold Prices recovered an early fall to $911.65 in Asia on Tuesday, rising throughout most of trade in London and New York and ending near the high of $925.40 per ounce.
That gave the Gold Market a gain of 0.88% for the day. Silver fell to $17.275 and rose to $17.945 before it closed with a gain of 1.8%.
The Gold Price in Euros rose to about €577, platinum gained $14.50 to $2020.50, and copper gained over 10 cents to about $4.00.
Gold and silver equities rose over 1% by about 2 hours into trade, but they then fell back off and ended slightly lower as the major indices dropped and gold and silver started off access hours access trade on a weaker note.
Crude oil rose to a new record intraday high of $119.90 and also made a new closing high on continued supply concerns and a lower US Dollar, unaided by Existing Home Sales data for March coming in as expected, two per cent below Feb.'s reading.
The Euro rose to a new record high above $1.60 as the ECB talked about inflation and lessened expectations for interest rate cuts anytime soon in Europe.
Treasuries rose as the Dow, Nasdaq, and S&P fell about 1% on mostly disappointing earnings reports and record high oil.
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