Gold News

Gold & Silver Hit Fresh Records as Oil, Stock Markets Rise

From Chris Mullen at

Gold rose to a new all-time high of $1498.05 by about 8:00 EST on Tuesday before it fell back off a bit in late morning New York trade, but it then rose to a new high of $1499.40 by midday and ended with a gain of 0.2%.

Silver Prices climbed to a new 31-year high of $43.90 in the last minutes of trade and ended with a gain of 2.3%.

Euro gold fell to about €1043 per ounce, platinum lost $3.50 to $1766.50, and copper gained 3 cents to about $4.22.

Gold Mining and silver equities rose in afternoon trade and ended with over 1% gains.

Oil reversed early losses and ended higher on geopolitical fears as the US Dollar index fell after the euro rose on easing debt worries in Europe.

Treasuries saw slight gains on a slow economic growth outlook that kept interest rates low.

The Dow, Nasdaq, and S&P traded mostly slight higher as mixed earnings reports were offset by better than expected housing data.

New data meantime showed US Housing Starts and new Building Permits both rising sharply, well ahead of analyst forecasts in March.

Wednesday at 10am EST brings the Existing US Home Sales report for March, expected at 5 million annualized.

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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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