Tomahawk, WI 11/3/2011 (StreetBeat) – Gold prices were popping Thursday on speculation that a Greek referendum is dead and as the European Central Bank eased monetary policy.Gold for December delivery was adding $28.40 at $1,758 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,760.30 and as low as $1,724 an ounce while the spot gold price was up $18, according to Kitco's gold index.
Silver prices were up 80 cents at $34.74 an ounce while the U.S. dollar index was down 0.43% at $76.75.
Gold had a tepid start on Thursday, with profit takers vying with a weaker U.S. dollar, but rumors that a Greek referendum is off the table or that Prime Minister Papandreou will be forced to resign caused a pop in gold as the euro rallied, the dollar weakened and investors had less need for cash.
PennyPayDay Disclaimer
No comments:
Post a Comment