Gold News

Gold Seeker Closing Report: Gold and Silver Fall Slightly With Stocks and Oil

Gold
traded mixed in Asia and fell $5.60 to $958.60 in London before it
climbed as much as $7.55 to $971.75 by about 9AM EST in New York, but
it then fell back off into the close and ended with a loss of 0.33%.
Silver fell over 1% in Asia and traded mixed in London before it rose
as much as 30 cents to $15.03 by about 9AM EST in New York, but it
also fell back off into the close and ended with a loss of 0.54%.

Euro
gold rose to about €670 on euro weakness, platinum lost $29 to
$1253, and copper fell 6 cents to about $2.75.

Gold
and silver equities saw small gains at the open before they fell back
off and traded mostly slightly lower for the majority of the day, but
they then rallied back higher in late trade and ended mixed and near
unchanged.

Meanwhile, The Hightower Report said that "with the US
equity market at times under noted pressure and the overall outlook
for the US economy seemingly being raised ahead of the non farm
payroll release on Friday morning it appeared as if a number of
physical commodity markets were seeing longs move to the sidelines.
Talk of a possible significant upgrade, in the amount of Non Farm
payroll jobs lost at the beginning of the year, was seen by some
traders as concerning development.
"

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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