Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Thursday 20th of November 2008
Wednesday, October 10, 2007

New York gold adds nearly $3 per ounce

Story link: New York gold adds nearly $3 per ounce
by Elaine Frei
New York gold adds nearly $3 per ounce

Precious metals were higher Wednesday as the US dollar dropped again in relation to the euro.

December gold on the Comex division of the New York Mercantile Exchange was $2.90 higher to $746 per troy ounce, while in London spot gold was as high as $745.85 and later traded at around $740 per troy ounce, up from Tuesday’s final quote.

Some analysts are concerned, however, that gold’s rally could stall if the Federal Reserve fails to cut interest rates in the US again this year.

Comex December silver added 9 cents to $13.67 per troy ounce in New York, while spot silver in London added 14 cents to $13.60 per troy ounce.

January platinum in New York was up $18.40 to $1,398 per troy ounce on the session.

 

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