Gold News

Gold & Silver Close Monday Higher as All US Markets Rise Vs. Dollar

From Chris Mullen at

Gold climbed as much as $24.43 an ounce to a high of $1348.93 in Asia on Monday, before it fell back off in London and New York to drop as low as $1333.30.

The Gold Price then rallied back higher in the last couple of hours of trade. and ended with a gain of 1.1%.

The Gold Price in Euros rose to about €957 per ounce.

Silver Prices climbed as high as $23.83 by about 08:00 Eastern, before also falling back in New York but still ending with a gain of 1.8%.

Platinum gained $23 to $1691.50, and copper gained over 6 cents to about $3.86.

Gold Mining and silver equities rose over 2% at the US opening, before they pared their gains a bit midday, but then climbed back higher in afternoon trade and ended near their earlier highs.

The Dow, Nasdaq, S&P, Treasury bonds and crude oil all rose as the US Dollar index fell after the weekend's G-20 meeting in Seoul.

Sales of Existing US Homes showed a sharp rise in Sept., new data showed.

Tuesday at 09:00 EST brings the Case-Shiller 20-City Index of US Home Prices for August, expected up 2.1%. At 10:00 comes US Consumer Confidence for October, expected at 49.0, and the FHFA Home Price Index for August.

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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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