Gold News

Gold & Silver End Monday 1.2% Higher; Dollar Falls, Stocks Flat

From Chris Mullen at

Gold jumped higher at the start of trade in Asia on Monday news of "gathering economic momentum" and strong commodity imports into China in China.

Pointing to strong future demand for real assets, the data sent the price of Gold as high as $1161.60 by early New York trade, before gold fell back off a bit into the close.

Gold still ended with a gain of 1.2% against the Dollar. Priced in Euros, gold rose above €793 an ounce.

Silver climbed as high as $18.88 before it also fell back off, but it still gained 1.2% for the day.

Platinum gained $12.50 to $1584, and copper gained roughly 4 cents to about $3.43.

Gold Mining and silver equities rose over 2% at the open, but they then fell back off for most of the rest of trade and ended with only slight gains.

Oil reversed early gains and ended modestly lower on forecasts for warm weather that lowered demand expectations.

The US Dollar index fell slightly with Treasury bonds, while the Dow, Nasdaq, and S&P ended mixed as traders awaited earnings reports.

There were no major US economic reports. Tuesday at 08:30 EST brings the Trade Balance for November, expected at minus $34.5 billion.

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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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