Gold Ends Unchanged While Silver Gains - 28 July 2009

Euro gold remained at about €670, platinum gained $27 to $1211.50, and copper gained a couple of cents to about $2.54.

Gold and silver equities rose about 1% at the open, but they quickly fell back off and traded mostly slightly lower for the rest of the day.

Meanwhile the The Hightower Report suggested that " While some traders suggest that divergence between gold and silver hints at a lack of a conclusive theme in the precious metals markets, other traders suggested that the divergent action between gold and silver was the result of a relatively "longer" COT positioning in gold from the reports that were calculated on July 21st. The Bull camp could counter by suggesting that gold did manage to make a higher high for the move and in the process reached the highest level since the beginning of the month!"

From Chris Mulllen of Gold-Seek.com .

Chris Mullen, 28 Jul '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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