Gold News

Gold Seeker Closing Report: Gold and Silver Fall Over 1% and 3%

Gold
and silver traded mostly slightly lower in Asia and London, but they
then accelerated their losses in New York and gold ended near its low
of $925.00 with a loss of 1.26% while silver closed near its low of
$13.167 with a loss of 3.49%.

Euro
gold fell to about €661, platinum lost $22 to $1169, and copper
fell over 4 cents to about $2.47.

Gold
and silver equities fell roughly 3% in the first hour of trade and
remained at about that level for the rest of the day.

The
fed’s Beige Book said that they see retail activity as sluggish
with some improvement in manufacturing, but lending is seen as stable
or weak. Overall the fed said that the economy continues to be weak,
but the pace of decline is slowing.

Tomorrow
at 8:30AM EST brings Initial Jobless Claims for 7/25 expected at
585,000.

From Chris Mullen at Gold-Seeker.com .

 

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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