If You Own Metal In the Ground, Make Sure It’s Somewhere Safe
May 21st, 2008 | By Dominic Frisby | Category: Gold MarketOvernight the Japanese market followed the Wall Street lead, with the Nikkei 225 sliding 1.65% to close at 13926, though in Hong Kong, the Hang Seng detected a better tone today in Europe, advancing 0.85% to 25383.
Brent spot was surging ever higher, trading this morning at $128.38, while spot gold rose to $924. Silver was trading at $17.70 and Platinum was at 2173.
Turning to forex, this morning sterling was slightly firmer at 1.9668 against the US dollar, but weaker against the euro at 1.2505. The dollar was last trading at 0.6360 against the euro and 103.22 against the Japanese yen.
Today sees the release of the latest Bank of England Monetary Policy Committee minutes following the latest interest rate ‘hold’ decision.
Source: If You Own Metal In the Ground, Make Sure It’s Somewhere Safe
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Dominic Frisby is MoneyWeek’s commentator on commodities, and is an active private investor in junior mining and energy companies. He is the presenter and producer of Commodity Watch Radio - an internet radio show run in association with Minesite, where Dominic discusses the commodities and financial markets with leading lights of the sector.