Gold News

Gold Seeker Closing Report: Gold and Silver End Mixed While Stocks, Bonds, and Dollar Fall

Gold
traded mostly slightly lower in Asia and London before it dropped
almost 1% to as low as $958.70 by about 11AM EST in New York, but it
then rallied back higher for most of the rest of trade and ended with
a loss of just 0.27%. Silver fell almost 1% to $14.54 in Asia before
it rallied back higher in London and saw a gain of $0.165 at $14.825
at about 9:30AM EST in New York and then fell back off to about
unchanged by late morning, but it then rallied back higher in
afternoon trade and ended with a gain of 0.48%.

Euro
gold fell to about €668, platinum gained $18 to $1282, and copper
rose nearly 2 cents more to about $2.81.

Gold
and silver equities fell over 2% in the first hour of trade, but they
then rallied back higher for the rest of the day and ended with only
slight losses.

The
U.S. dollar
index, treasuries, and the Dow, Nasdaq, and S&P all fell slightly
on economic data that was mostly worse than expected, but not quite
concerning enough to inspire another huge round of cash raising
and/or safe haven buying.

 

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.

See the full archive of Chris Mullen articles

 

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