Gold News

Gold & Silver Slip as Dollar Bounces, Stocks Fall, Ahead of Fed & G20 Meetings

From Chris Mullen at

Gold traded roughly 1% lower in Asia and London on Monday before it rallied to see a loss of just $3.40 at $1005.10 per ounce a little before midday in New York.

Gold then fell back off into the close and ended with a loss of 0.6%. The Gold Price in Euros fell to €683 an ounce.

Silver saw almost 3% losses in Asia and London before it rallied to see a loss of just $0.10 at $16.93 by a little before noon in New York and then also fell back off into the close, ending with a loss of 1.1%.

Platinum lost $9 to $1316, and copper gained a couple of cents to about $2.79.

Gold Mining and silver equities fell over 4% at the open, but they then rallied back higher for most of the rest of trade and ended with only a little over 1% losses.

Oil fell back below $70 while the US Dollar rose on speculation about what may come out of the Federal Reserve and then G20 meetings later this week.

Treasuries traded mixed along with the Dow, Nasdaq, and S&P as traders waited for clues about the future of the economy later in the week.

The Leading Indicators report for August showed a 0.6% rose, rather than the 0.7% expected or the 0.9% seen in June.

US mortgage delinquencies set a record in August said Equifax.  Reuters

Tuesday at 10:00 EST brings the FHFA Housing Price Index for July, expected up 0.5%.

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