Gold News

Gold & Silver Prices Slip After Ending NY Trade 0.2% Better, Mining Stocks Fall 1% as Dollar Rises


From Chris Mullen

Gold Prices climbed to $1371.98 in London onMonday and fell to $1359.28 in early New York trade, before rallyingto a new session high of$1376.68 by early afternoon. 

The Gold Price then fell back off a bitin late trade, but it still ended with a gain of 0.2%.

The Gold Price in Euros rose to about€1005 per ounce.

Silver Prices fell to $25.72 and roseto $26.45 before also falling back off, but still ending New Yorktrade with a gain of 0.2%.

Both metals fell in after-hours accesstrade at the time of writing.

Platinum gained $1.50 to $1680, and copper gained a few cents to about $3.92.

Gold Mining and silver equities wafflednear unchanged and ended with about 1% losses.

Oil remained near unchanged whilethe US Dollar index rose and Treasuries fell on decent economic datathat sent the Dow, Nasdaq, and S&P modestly higher for most oftrade, but they then fell back off into the close and ended mixed andnear unchanged.

New US data showed Retail Sales rising1.2% in Oct., better than expected, but the Empire ManufacturingIndex showed a sharp contraction and Business Inventory growth was onforecast at 0.9%.

Tuesday at 08:30 EST brings ProducerPrice Inflation for October, expected at0.8%. Core PPI is expected at0.1%.

At 09:00 comes the Net Long-Term TICFlows report for September, and at 09:15 are Industrial Productionfor October (expected at 0.3%) andCapacity Utilization (expected at74.9%).

At 10:00 is the NAHB Market HousingIndex for November, expected at 15.0.

Buying Gold today...?


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