Gold gains $7.70 per troy ounce
by Elaine Frei
Precious metals prices rose on Monday.
August gold added $7.70 to $662.50 per troy ounce in New York as investors speculated that the dollar will fall and increase demand for metals as safer investments.
The US dollar was weaker during the day against sterling while it remained about even versus the euro, hurt by the expectation that interest rates will remain unchanged for the rest of the year.
September silver was higher as well, adding 6 cents to $12.82 per troy ounce in New York.
Despite the gain in silver, its price remains 0.9 percent lower than it was at the beginning of the year.
Gold, on the other hand, has gained 3.8 percent so far this year.
Meanwhile, October platinum was $6.90 higher to trade at $1,318 per troy ounce.
Add to Bookmarks:
Related posts to: Gold gains $7.70 per troy ounce
Gold gains despite dollar strength ...
Copper sees gains on LME inventory declines ...
Copper pares gains on US retail data ...
Gold, platinum gains as silver declines ...
Most metals prices see gains ...
Latest Metals News:
Copper higher in London, New York Investor concerns send copper prices lower Copper, aluminium prices climb as other base metals fall Copper up in London; inventories fall, cancelled warrants rise Copper gains on US jobs data, China comments Copper up on weaker dollar Copper prices climb after Chile quake Metals prices mixed in New York, London Gold down slightly in NY on stronger dollar Copper prices up after last week’s declinesPrevious: « Copper up on strikes, low inventories
Next: Alcoa predicts 33.6% rise in China’s demand for aluminium »
Visited 11844 times, 8 so far today