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Gold gains ahead of US elections, Federal Reserve meeting
by Elaine Frei
Gold prices were higher in New York trade on Friday as investors seemed to be looking for safe deals ahead of an expected announcement next week from the US Federal Reserve on plans for more measures to help the economy. Investors were also waiting for the outcome of congressional elections in the US, slated for [...]
Gold, copper both gain in New York on weaker dollar
by Elaine Frei
Precious metals prices were higher Thursday in New York trade as a weaker US dollar made them more attractive as investments for those looking for safer places to put their cash. December gold was up $19.40 to $1,342.10 per troy ounce at the close of floor trade, while December silver added 51 cents to $23.91 [...]
Gold drops $16 in New York trade
by Elaine Frei
The price of gold was down Wednesday, with December contracts falling $16 to $1,322.60 per troy ounce on the Comex in New York. Declines came as the dollar strengthened, limiting demand from investors looking for alternative places to put their cash, and also on concerns that any steps the Federal Reserve might take to help [...]
Palladium at ten-year high on proposed new emissions rules in US
by Elaine Frei
December contracts for palladium reached a ten-year high Tuesday, closing trade in New York up $16.65 to $625.45 per troy ounce, while January platinum added $7 to $1,704 per troy ounce after the United States government announced more stringent rules on vehicle emissions for trucks, buses and similar heavy vehicles. The rules, which are expected [...]
Copper prices up on data, news
by Elaine Frei
The price of copper was higher in New York and London was higher Monday as a weaker dollar made the metal more attractive as an investment and on news and data that tended to push prices upward. December copper was up 6 cents to $3.86 per pound in afternoon trade in New York, while afternoon [...]
Gold prices unsettled as G20 finance ministers meet
by Elaine Frei
December gold was down 80 cents to $1,324.70 per troy ounce in afternoon trade on the Comex in New York as investors waited to hear what finance ministers from the G20 nations, in South Korea for a meeting, have to say about global currencies. Gold prices were also pushed lower by a slightly stronger US [...]
Gold prices lower on profit taking, stronger dollar
by Elaine Frei
The price of gold fell Thursday as the US dollar strengthened, as investors took profits after recent gains, and as corporate earnings reports convinced investors to return to equities markets. December gold was $18.60 lower at the close of floor trade to $1,325.60 per troy ounce in New York trade, bringing it to $52 lower [...]
Gold recovers some of Tuesday’s losses on weaker US dollar
by Elaine Frei
Gold prices were higher Wednesday after Tuesday’s steep decline when China raised some interest rates there, sending the dollar higher and causing fears that demand for metals could decline. December gold added $8.20 to $1,344.20 per troy ounce and went as high as $1,347 pr troy ounce earlier in the session as the US dollar [...]
Gold, copper prices fall on interest rate hike in China
by Elaine Frei
The price of gold dropped substantially Tuesday after the People’s Bank of China announced that it will cut one-year interest rates beginning tomorrow, with the one-year deposit rate going to 2.5 percent, up by a quarter of a percentage point, while the one-year lending rate will go up by the same amount to 5.56 percent. [...]
Gold prices pull back on stronger dollar, Bernanke comments
by Elaine Frei
The price of gold retreated Friday as the US dollar strengthened, as some investors took profits after recent gains, and after Federal Reserve Chairman Ben Bernanke said there is a case for more easing of monetary policy in the United States, taken by many analysts and investors as an implication that the Fed will take [...]
Weak dollar, declining equities push gold up again
by Elaine Frei
A weaker US dollar boosted gold prices to another new record Thursday, while declines in equities markets and more new unemployment claims than expected last week in the United States also helped push prices higher. Declines for the dollar and the disappointing unemployment data after a report from the US Labor Department said that new [...]
Gold prices set more new records
by Elaine Frei
The price of gold rocketed to new closing and intraday highs in New York trade Wednesday as the US dollar weakened, sending investors looking for safe alternative places to put their cash. December contracts for gold added $23.80 to $1,370.50 per troy ounce on the Comex division of the New York Mercantile Exchange, a new [...]
Gold prices drop on stronger dollar before Fed minutes
by Elaine Frei
Gold prices were lower in New York floor trade today, with December contracts closing the session down $7.70 from Monday’s close to $1,346.70 per troy ounce on the Comex division of the New York Mercantile Exchange after going as high as $1,356.30 per troy ounce earlier in the session, declining as the US dollar strengthened. [...]
Gold closes at another record in New York trade
by Elaine Frei
The price of gold hit another closing high Monday in subdued trade, with the US observing the Columbus Day holiday although most markets remained open. December gold closed up $9.10 to $1,354.40 per troy ounce on the Comex division of the New York Mercantile Exchange after going as high as $1,356.30 per troy ounce earlier. [...]
Gold gains again on private US jobs report
by Elaine Frei
Gold prices were higher again on Wednesday after a private survey from ADP showed that the US private sector lost 39,000 jobs in September, and after Fitch Ratings downgraded Ireland from AA minus to A plus. Analysts also put much of the day’s gains, as well as the jump of $23.50 in front-month contracts on [...]
Gold surpasses record high again; tin trades at record highs in London
by Elaine Frei
Gold prices soared to a new record Tuesday in New York trade as the US dollar weakened and the Bank of Japan cut interest rates to near-zero and said it will buy government and corporate bonds to help the economy there recover, making some analysts believe that the US Federal Reserve will follow suit. December [...]
Gold prices in slight decline
by Elaine Frei
The price of gold was down slightly in New York trade on Monday, with December contracts dropping $1 to $1,316.80 per troy ounce as the US dollar strengthened versus the euro on a report of higher unemployment in Spain. December silver was also slightly lower, falling 2 cents to $22.04 per troy ounce in New [...]
Gold heads above $1,315 per ounce in New York trade
by Elaine Frei
Gold traded at record-high levels again Friday in New York as the US dollar weakened and new data showed that US manufacturing activity slowed in September. December contracts for gold traded up $7.30 to $1,316.90 per troy ounce at nearly 1 p.m. local time in New York after going as high as $1,322 per troy [...]