Gold Ends Monday Unchanged as Dollar Rallies, Treasuries Fall on Surprise US Retail Data
From Chris Mullen at GoldSeek.com...
Gold Prices fell Monday to $914.10 in Asia and then rose to $931.82 by mid-morning in New York before falling back off a bit in the last few hours of trade.
The price of Gold still ended with a gain of 0.17%. Silver fell to $17.245 and rose to $17.87 before it closed with a gain of 0.57% for the session.
The Gold Price in Euros remained at about €585, platinum lost $39.50 to $1960, and copper fell nearly 5 cents to about $3.92.
Gold and silver equities traded slightly higher for most of the day and ended with minor gains.
Oil rose to a new record closing high on supply disruptions caused by sabotage in Nigeria and a temporary pipeline shutdown in the United States.
The US Dollar index fell and Treasuries rose in early trade on worries over a recession in the US as Wachovia Bank reported a surprising loss due to troubles in the mortgage industry.
But the Dollar ended marginally higher and bonds fell by the end of trade as Retail Sales came in better than expected and pushed interest rates higher. The Dow, Nasdaq, and S&P traded mixed and ended near unchanged.
Tuesday at 13:30 GMT brings US Producer Price Inflation for March, expected at 0.6% month-on-month, plus the NY Empire State Index for April expected at -17.0.
At 14:00 GMT comes the Net Foreign Purchases of US securities report for Feb., expected at $60.0 billion.
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