Gold News

Gold & Silver Prices End Monday 0.1% Lower as Dollar Rallies, Stocks Fall on Mixed Data

From Chris Mullen at

Gold Prices rose a few dollars to $1319.70 in Asia on Monday before falling to see a $4.60 loss at $1311.90 in London.

The Gold Price then rallied back to see a slight gain shortly before 08:00 Eastern, but chopped around near $1315 in New York and ended with a loss of 0.1% on the day.

Euro Gold Prices rose to about €961 an ounce.

Silver Prices climbed to $22.165 and fell to $21.871 before rebounding in late trade but also ending with a loss of 0.1% vs. the Dollar.

Platinum lost $11.45 to $1663.75, and copper fell a few cents to about $3.66.

Gold Mining and silver equities fell about 2% by late morning and remained near that level for the rest of the day.

Oil ended slightly lower as the US Dollar index rose after the Euro fell on increased debt and economic worries in Europe.

Treasuries rose as the Dow, Nasdaq, and S&P fell on ratings downgrades and mixed economic data showing US home sales now pending rose 4.3% in August, but Factory Orders contracted by 0.5% month-on-month.

Tuesday at 10:00 Eastern brings ISM Services for Sept., expected at 51.8.

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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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