Gold adds $33 per ounce on interest rate, oil price speculation
by Elaine Frei

Metals prices rose Thursday as the dollar weakened after Wednesday’s decision by the US Federal Reserve to hold interest rates at 2 percent.
Gold had its biggest one-day percentage gain since late February 2007 as it added $33.20, or around 3.5 percent, to $915.50 per troy ounce on sentiment that the Federal Reserve will not be in any hurry to raise interest rates and after the president of the Organization of Petroleum Exporting Countries said that crude oil prices could go as high as $170 per barrel this summer.
September silver was also higher, adding 61 cents to $17.22 per troy ounce, while October platinum gained $51.70 to $2,071 per troy ounce.
Among base metals, copper was also up on the declining dollar.
September copper was up 5 cents to $3.83 per pound in New York, while three-month copper was $128 higher to $8,443 per tonne, or $3.83 per pound, on the London Metal Exchange.
Add to Bookmarks:
Related posts to: Gold adds $33 per ounce on interest rate, oil price speculation
Gold gains on rate speculation ...
Copper down 3 percent on interest hikes ...
Gold, silver drop on interest rate speculation ...
Interest rate concerns hits gold price ...
Gold price lowers on interest rate rise fears ...
Latest Metals News:
Gold gains on investor search for safety
Copper prices gain on demand hopes
EMED Mining acquires 100% of Andalucian copper mine
Gold gains on safe-haven status
Gold prices lower as equities recover
Copper drops 17 cents in New York
Bailout uncertainty slows copper trade
Nickel prices drop on higher inventories
Copper prices fall in London, New York
Copper declines on profit-taking, bailout concernsPrevious: « Paramount reports resource increase at San Miguel project
Next: Osisko provides drilling results »
Visited 2367 times, 2 so far today