Monday, December 14, 2009
Gold gains on help for Dubai
Story link: Gold gains on help for Dubai
by Elaine Frei
by Elaine Frei
Metals prices were higher in New York Monday, gaining on a weaker dollar and news from Dubai about it’s debt crisis.
Dubai said during the day that it was receiving $10 billion from Abu Dhabi to help pay its debts, averting a possible default on a bond that was to mature during the day.
February gold was up $3.90 to $1,123.80 per troy ounce on the session.
Despite the day’s gains, most analysts don’t see any huge gains for gold prices through the end of the year.
March silver added 25 cents to $17.34 per troy ounce, January platinum was $24.30 higher to $1,447 per troy ounce, and March palladium was last reported to have gained $4.60 to $366.75 per troy ounce.
Meanwhile, March copper was up 2 cents to $3.15 per pound in New York.
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