From Chris Mullen at GoldSeek.com...
Gold fell nearly 1% to $880.90 by late trade in Asia on Monday, but it then chopped its way higher in London and New York to end near its high of $897.50 with a gain of 0.61% for the session.
The US Dollar index rose in early trade as economic data was not indicative of a serious recession, but it fell to end with only a small gain.
Silver rose over 1% to $17.01 during early trade in London before it fell to end with a gain of 0.12%.
The Gold Price in Euros rose to about €574, platinum remained unchanged at $2006, and copper fell a couple of cents to about $3.61.
Gold and silver equities rose over 1% by early afternoon before they pulled back a bit on notable weakness in the major indices, but the miners still ended with slight gains.
Treasuries rose despite negative – but better than expected – US construction and services data, as the Dow, Nasdaq, and S&P fell throughout trade on worries over more shoes to drop in the financial sector.
Rating agency Standard & Poors made public its rating cuts and outlook downgrades of major US banks.
Oil eventually rose on worries over a busy storm season despite more indications that demand is falling off. Rumors over a US military attack on Iran also brought out buyers.
Tuesday at 15:00 GMT brings the US Factory Orders report for April, expected to show -0.1% contraction.
Looking to Buy Gold today? For direct access to live Gold Market prices, plus secure storage of your property – in Zurich, Switzerland – for just 0.12% per year, visit BullionVault now...