The gold price
Gold Slips from $1,000 Peak, Ends Tues 0.4% Higher, as Stocks & Crude Oil Rise - 8 September 2009
From Chris Mullen at GoldSeek.com...
The Gold Price climbed fast as Asia trade began early Tuesday, reaching as high as $1007.37 an ounce early in London before falling back off in New York dealing to as low as $993.45.
Gold Prices then rallied back in the last hour and a half of trade and ended with a gain of 0.4% from their previous New York close on Friday, before the Labor Day weekend.
The Gold Price in Euros climbed to €688 an ounce.
Silver rose as much as $0.62 from Friday's close to as high as $16.82 in Asia before it also fell back off in London and New York. It also bounced in the last few minutes of trade and ended with a gain of 1.5%.
Platinum rose to $1280, and copper remained at about $2.85.
Gold Mining and silver equities rose over 4% at the open, but they then chopped their way lower midday and ended with only slight gains on the day.
Oil topped $71 while the US Dollar index and treasuries fell on takeover news and optimism in the stock market that sent the Dow, Nasdaq, and S&P modestly higher on the day.
New data showed US Consumer Credit sharply lower for July, dropping four times as much as analysts forecast. Wednesday at 14:00 EST brings the Federal Reserve's monthly Beige Book of economic analysis.
Ready to Buy Gold...?
The Gold Price climbed fast as Asia trade began early Tuesday, reaching as high as $1007.37 an ounce early in London before falling back off in New York dealing to as low as $993.45.
Gold Prices then rallied back in the last hour and a half of trade and ended with a gain of 0.4% from their previous New York close on Friday, before the Labor Day weekend.
The Gold Price in Euros climbed to €688 an ounce.
Silver rose as much as $0.62 from Friday's close to as high as $16.82 in Asia before it also fell back off in London and New York. It also bounced in the last few minutes of trade and ended with a gain of 1.5%.
Platinum rose to $1280, and copper remained at about $2.85.
Gold Mining and silver equities rose over 4% at the open, but they then chopped their way lower midday and ended with only slight gains on the day.
Oil topped $71 while the US Dollar index and treasuries fell on takeover news and optimism in the stock market that sent the Dow, Nasdaq, and S&P modestly higher on the day.
New data showed US Consumer Credit sharply lower for July, dropping four times as much as analysts forecast. Wednesday at 14:00 EST brings the Federal Reserve's monthly Beige Book of economic analysis.
Ready to Buy Gold...?
Chris Mullen, 08 Sep '09
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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