Gold closes at $869.10, highest finish ever
by Elaine Frei
Gold came close to an all-time high price and closed at its highest ever in New York on Thursday.
Early in the session, February gold traded at $872.90 per troy ounce, just shy of its all-time high of $873 per troy ounce, set in January 1980.
It ended the floor session on the Comex division of the New York Mercantile Exchange at $869.10 per troy ounce, $9.10 higher than Wednesday’s close and its highest-ever closing price.
The gains came as crude oil prices soared to a new high, a few cents above $100 per barrel, before falling back slightly but still trading above $99 per barrel.
Despite the advance, however, some analysts worried that gold could see short-term declines if the dollar climbs in relation to the euro, and some believe that the price is currently up to $150 higher than fundamentals would support.
March Silver added 21 cents to $15.50 per troy ounce, a gain of 1.4 percent on the session.
Platinum was also higher on the day, with April contracts adding $5.80 to $1,551.80 per troy ounce.
Add to Bookmarks:
Related posts to: Gold closes at $869.10, highest finish ever
Golden Predator intersects gold mineralization at Modoc property ...
Kent Exploration closes private placement ...
Nickel adds $400 on session ...
Gold closes below $800 level ...
Melkior closes sale of Otish interest to Kakanda ...
Latest Metals News:
Copper prices fall on inventories, US housing data Copper, aluminium gain after early declines Gold drops half a dollar in New York Copper pares gains on US retail data Copper, aluminium inventories continue to climb Alcoa delays expansion at Wagerup and cuts production Platinum, palladium down on auto sector problems China’s stimulus plan sends most metals higher Western Areas reports on high grade nickel at Spotted Quoll Rio looks for Chinese joint venturesPrevious: « Base metals gain on US factory orders data
Next: Metals prices decline on profit-taking, data »
Visited 1023 times, 4 so far today