Gold News

Gold Flat, Silver Falls vs. Rising Dollar

From Chris Mullen at

Gold fell as much as $9.25 to $1143.40 in late Asian trade on Thursday, before it rose to see a $1 gain at $1153.70 by early afternoon in New York.

The Gold Price then fell back off into the close and ended unchanged on the day vs. the Dollar.

The Gold Price in Euros rose to a new all-time high above €864 an ounce

Silver fell as low as $17.89 in early New York trade before it rebounded into the close, but is still ended with a loss of 0.5%.

Platinum gained $0.50 to $1713, and copper fell a penny to about $3.58.

Gold Mining and silver equities fell over 1% at the open before they rose to see slight gains by midday, but they then fell back off a bit in afternoon trade and ended near unchanged.
Oil ended lower on worries over demand after jobless claims came in higher than expected for last week at 460,000.

The US Dollar index waffled near unchanged on conflicting reports over the future of Greece and its debt problems. 

Treasuries fell after Thursday's 30-year note auction drew a high yield of 4.770% with a bid to cover of 2.73.

Interest rates on 30-year US home loans rose to 5.21%, an eight-month high.

The Dow, Nasdaq, and S&P fell in early trade on worries over Greece and higher than expected jobless claims, but all three indices rose to find a gain by the close on encouraging retail sales reports.

Retailers reported a strong March, thanks to Easter, but forecast weaker sales in April.

Friday at 10:00 ET brings Wholesale US Inventories for Feb., expected to have grown by 0.4%.

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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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