Gold News

Gold & Silver Add 0.4% as Dollar Rises, Stocks Gain

From Chris Mullen at

Gold Prices saw a gain of $6.23 per Dollar in Asia on Tuesday, before falling back off in London to see a loss of $5.20 at $1094.50 a little after 8:00 New York time.

Gold Prices then rose to a new session high of $1107.89 by early afternoon in New York and ended with a gain of 0.4%.

The Gold Price in Euros rose to €817 an ounce.

Silver fell over 1% as low as $16.71 before it also climbed back higher in New York and ended near its noontime high of $17.12 with a gain of 0.4%.

Platinum gained $5 to $1603, and copper fell to about $3.37.

Gold Mining and silver equities fell over 1% in the first half hour of trade before they rebounded to see about 1% gains by midmorning and then fell back off a bit in afternoon trade, but they still ended with slight gains.
Oil edged higher on hopes for rising energy demand.

The US Dollar index rose as the Euro fell on continued uncertainty over Greece.

Treasuries turned lower after an auction of $44 billion in 2-year notes drew a high yield of 1.00% with a bid to cover of 3.00.

The Dow, Nasdaq, and S&P rose almost 1% on decent economic data.

Existing Home Sales slipped in Feb. from Jan., new data showed, but beat analyst forecasts. The FHFA Home Price Index extended late 2009's drop on Jan.'s figures, but slowed the rate of loss.

Wednesday at 08:30 EST brings Durable Goods Orders for Feb., expected up 0.6%.  Excluding autos, orders are also expected up 0.6%. At 10:00 New York time comes the New Home Sales report for February, expected at 315,000.

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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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