Contrarian Stock Market Investing News - Featuring Bargain Stocks » gold trading http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Gold Rises on Dollars Weakness http://www.contrarianprofits.com/articles/gold-rises-on-dollars-weakness/10516 http://www.contrarianprofits.com/articles/gold-rises-on-dollars-weakness/10516#comments Tue, 23 Dec 2008 14:54:16 +0000 Doug Casey http://www.contrarianprofits.com/?p=10516 It was a mixed day for the precious metals as gold rose, but silver and platinum were both down slightly. Gold traded up during the pre-dawn hours before reaching an intraday high $851.22/oz. during the NYMEX session. While prices trended downward throughout afternoon trading gold still posted a gain of $9.90 to finish at $847.80/oz.

Platinum traded up during the NYMEX session, reaching a high of $862.50/oz., before slipping during afternoon trading. Platinum ultimately finished just off its intraday low at $848/oz., down $3.

Silver rose sharply during Far East trading, but posted steady declines for the rest of the day to finish in the red. Silver ended at $10.81/oz., down just $0.01 from Friday’s close.
(Click here for charts)

Gold’s rise was largely…

]]> It was a mixed day for the precious metals as gold rose, but silver and platinum were both down slightly. Gold traded up during the pre-dawn hours before reaching an intraday high $851.22/oz. during the NYMEX session. While prices trended downward throughout afternoon trading gold still posted a gain of $9.90 to finish at $847.80/oz.

Platinum traded up during the NYMEX session, reaching a high of $862.50/oz., before slipping during afternoon trading. Platinum ultimately finished just off its intraday low at $848/oz., down $3.

Silver rose sharply during Far East trading, but posted steady declines for the rest of the day to finish in the red. Silver ended at $10.81/oz., down just $0.01 from Friday’s close.
(Click here for charts)

Gold’s rise was largely the result of weakening dollar and declining equities.

Gold’s trading off the dollar,” wrote Frank Lesh of FuturePath Trading. “A weak economy and all-time low interest rates don’t call for a strong dollar.”

Gold saw further support from investors looking for a safe haven during these troubled economic times.

We’re not going to get any revelations on the economy soon,” Lesh continued. “Those who want to hold gold are still looking at a shaky equity market worldwide.”

Source: Gold Rises on Dollars Weakness

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