Gold News

Gold & Silver Climb as Stocks Rise, Dollar Falls

From Chris Mullen at GoldSeek.com...

Gold and silver steadily rose in Asia and London on Monday, reaching as high as $955.00 and $13.75 respectively in early New York trade.

Both the silver and Gold Price then pared their gains into the close, but gold still ended with a healthy gain of 1.2% while silver added 1.8%.

The Gold Price in Euros rose to €668 an ounce.

Platinum gained $12.50 to $1181, and copper gained nearly 5 cents to about $2.46.

Gold Mining and silver equities rose over 3% at the US open and remained near their highs for most of the rest of trade.

Oil found slight gains and the US Dollar index and Treasuries fell while the Dow, Nasdaq, and S&P climbed higher on decent earning reports and news that commercial lender CIT will likely be rescued by non-government entities.

The US Leading Indicators Report gave a better than expected for June, but slipped from May.

There are no major US economic reports due out Thursday, but Federal Reserve chairman Ben Bernanke will start his biannual testimony before Congress.

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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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