|
Gold Prices rose as much as $5.35 an ounce to $1123.55 in Asia on Monday before falling to see a loss at $1111.60 in London.
Dollar Gold Prices then climbed back above $1120 by midday in New York, but ultimately fell off into the close to end virtually unchanged from Friday.
The Gold Price in Euros climbed to 825 euro, just off its all-time high of 826 euro made 10 days earlier, as the Euro fell on uncertainty over the timing and terms of a potential bailout of Greece.
Oil reversed early gains and ended lower after the US Dollar index rose as the British Pound fell on worries about the outcome of the UK general election, driving the Gold Price in Sterling to new record highs.
Treasury bonds fell as the Dow, Nasdaq, and S&P rose on news of AIG's sale of a life insurance unit that raised hopes that the beleaguered insurance company may be able to survive without any further government bailouts.
Silver meanwhile gained $0.27 to $16.75 in Asia but fell to $16.395 by midmorning in New York, before it rose only to fall back off in late US trade and ended with a loss of 0.3% vs. the Dollar.
Platinum lost $1 to $1537.50, and copper gained over 6 cents to $3.33.
Gold Mining and silver equities rose over 1.5% by noon EST and remained near their highs into the close.
New US data showed Personal Income rising only 0.1% in Jan., while Personal Spending jumped 0.5%. Core inflation in personal expenditure prices was flat, while Construction Industry Spending fell 0.6% as forecast.
The ISM index of sentiment and demand in the services sector fell to 56.5 from last month's 58.4, missing analysts' predictions.
There are no major economic reports due out Tuesday.
http://www.bullionvault.com
Legal disclaimer and risk disclosure
(c) BullionVault 2008 Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events - and must be verified elsewhere - should you choose to act on it. |