Thursday, February 28, 2008
Gold touches new record in New York
Story link: Gold touches new record in New York
by Elaine Frei
by Elaine Frei
Precious metals prices were higher on Thursday, with gold touching a record high around $970 per troy ounce as the dollar weakened to a record low against the euro and crude oil rose to a record high in New York.
Also pushing gold higher was speculation that the Federal Reserve will cut interest rates again soon.
After going to a record, April gold traded at $968.90 per troy ounce, still a gain of $7.90 over Wednesday’s close.
May silver was up 38 cents to $19.72 per troy ounce, while April platinum was up $2.50 to $2,154.80 per troy ounce after overcoming early declines based on worries that prices have been rising too quickly.
Among base metals, May copper was up 3 cents to $3.88 per pound in New York.
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Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Gold Fields forecasts substantial drop in South African production
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