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Gold Ends Flat, Silver Gains, as Stocks Flag Ahead of $102Bn US Debt Sales

From Chris Mullen at

Gold saw slight gains in Asia on Monday, before it fell back off in London and midmorning New York trade to drop as low as $1221.60 by 11am ET.

The Gold Price then rallied back higher into the close, and ended with a loss of just 0.06%.

The Gold Price in Euros rose to about €968 an ounce.

The Silver Price fell to as low as $17.87 by late morning in New York before it also rallied back higher in the last couple of hours of trade and ended with a gain of 0.11%.

Platinum lost $6.50 to $1500.50, and copper remained at about $3.29.

Gold Mining and silver equities fell over 1% by late morning before they rebounded a bit, but they still ended with modest losses.

Oil fell as the US Dollar index and Treasuries found slight gains ahead of this week's $102 billion in debt auctions that begin Tuesday with a $37 billion sale of 2-year notes.

The Dow, Nasdaq, and S&P waffled near unchanged and ended modestly lower as decent company news somewhat offset persistent worries over the economy.

There were no major US economic reports. Tuesday at 10:00 ET brings Existing Home Sales for July, expected at 4,720,000.

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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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