Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Sunday 05th of February 2012
Monday, November 2, 2009

Gold gains on weak dollar, news

Story link: Gold gains on weak dollar, news
by Elaine Frei
Gold gains on weak dollar, news

Gold prices were higher Monday as the US dollar weakened and even though investment demand was down.

Another factor in gold’s gains was the news that CIT Group (NYSE: CIT), which lends to small and medium-sized businesses, filed for Chapter 11 bankruptcy protection in New York over the weekend, an indication that the troubles in the banking sector are not over yet.

December gold added $13.60 to $1,054 per troy ounce in New York after trading in a range that went as low as $1,042.20 and as high as $1,063.40 during the session.

Contracts for December silver were up 19 cents to $16.44 per troy ounce while January palladium added $11.80 to $1,338.10 per troy ounce and December palladium gained $3.10 to $326.35 per troy ounce.

Meanwhile, among base metals, December copper was down a cent to $2.95 per pound in New York trade but three-month contracts for copper on the London Metal Exchange added $70 to $6,550 per tonne on reports of expanded manufacturing activity in both the United States and China.

The gains for copper came even though LME-monitored stockpiles continue to rise.

Aluminium and zinc prices were also up, and while tin went untraded its bids were up slightly, but lead and nickel prices fell on the session.

 


Related posts to: Gold gains on weak dollar, news

Metals prices mixed on weak dollar ...

Gold up on weak dollar, oil price gains ...

Platinum gains on prediction of supply deficit ...

Gold gains on oil prices, weak dollar ...

Gold adds value on weak dollar ...

Latest Metals News:

Latest News  Gold ends session lower in New York, but gains on week

Latest News  Gold prices retreat after setting new intraday high

Latest News  Gold closes at $1,666 per ounce in New York trade

Latest News  Gold prices at new records on disappointing US data

Latest News  Gold prices lower but comes off session lows on manufacturing data

Latest News  Gold sets new intraday, closing highs to end trading week in New York

Latest News  Copper rises; precious metals prices see declines

Latest News  Gold prices drop on profit-taking, stronger US dollar

Latest News  $1,616.80 per troy ounce: Another record high for gold

Latest News  Gold trades as high as $1,624.30 per ounce in New York


Previous: «
Next: »

Visited 2429 times, 1 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):