Gold News

Gold Bounces, Silver Drops, as Stocks Rally, Bonds Fall

From Chris Mullen at GoldSeek.com...

Gold rose to see a $5.05 gain at $939.80 by late trade in Asia on Tuesday, before it fell back off in London and saw a loss of $0.55 at $934.20 by the New York opening.

The Gold Price then rallied back higher into the close and ended with a gain of 0.3%.

The Gold Price in Euros remained at €664.

Silver climbed as much as $0.265 to $14.225 in Asia before it fell to see a 1% loss at $13.82 an ounce, also rallying into the close but still ending with a loss of 0.2%.

Platinum gained $8.50 to $1224, and copper fell slightly to about $2.76.

Gold Mining and silver equities rose over 1.5% by midday in New York and remained near their highs into the close.

Oil rose slightly while the US Dollar index and Treasuries dropped as the Dow, Nasdaq, and S&P found modest gains on decent earnings reports.

New data showed US housing starts and building permits weaker than forecast, while Producer Price inflation was sharply negative, down 0.9% month-on-month in July.

There are no major US economic reports due out Wednesday.

Ready to Buy  Gold...? See how to make it simple, secure and cost-effective at BullionVault...

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.

See the full archive of Chris Mullen articles

 

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

 

Market Fundamentals