The gold price
Gold Jumps 1.7%, Hits New Euro & Sterling Records, as Dollar Slips, Silver Adds 3.5% - 3 March 2010
From Chris Mullen at GoldSeek.com...
Gold Prices held near unchanged in Asia on Tuesday, rising to see modest Dollar gains – and new Euro and Sterling records – in London, before climbing even higher in New York and ended near the late session high of $1137.50 with a gain of 1.7%.
The Gold Price in Euros rose to a new all-time high above €835 an ounce.
Silver followed a similar pattern and ended near its late session high of $17.06 the ounce with a gain of 3.5%.
Oil as climbed back near $80 a barrel as the US Dollar index fell after the euro rose on hopes for a resolution to Greece's problems.
Treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher on optimism over Greece and new merger activity.
Platinum gained $34 to $1571.50, and copper gained another 6 cents to about $3.39.
Gold Mining and silver equities rose over 3% by early afternoon in the US, before they fell back off a bit in the last couple of hours of trade, but they still ended with about 2.5% gains.
There were no major economic reports Tuesday. Wednesday at 08:15 EST brings ADP Employment for February, expected to show a 10,000 loss. At 10:00 comes the ISM Services report for February, expected at 51.0, and at 2PM is the Fed's Beige Book of analysis for March.
Looking to Buy Gold today...?
Gold Prices held near unchanged in Asia on Tuesday, rising to see modest Dollar gains – and new Euro and Sterling records – in London, before climbing even higher in New York and ended near the late session high of $1137.50 with a gain of 1.7%.
The Gold Price in Euros rose to a new all-time high above €835 an ounce.
Silver followed a similar pattern and ended near its late session high of $17.06 the ounce with a gain of 3.5%.
Oil as climbed back near $80 a barrel as the US Dollar index fell after the euro rose on hopes for a resolution to Greece's problems.
Treasuries fell as the Dow, Nasdaq, and S&P traded mostly higher on optimism over Greece and new merger activity.
Platinum gained $34 to $1571.50, and copper gained another 6 cents to about $3.39.
Gold Mining and silver equities rose over 3% by early afternoon in the US, before they fell back off a bit in the last couple of hours of trade, but they still ended with about 2.5% gains.
There were no major economic reports Tuesday. Wednesday at 08:15 EST brings ADP Employment for February, expected to show a 10,000 loss. At 10:00 comes the ISM Services report for February, expected at 51.0, and at 2PM is the Fed's Beige Book of analysis for March.
Looking to Buy Gold today...?
Chris Mullen, 03 Mar '10
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.
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, RSS links are shown there.
