Gold takes back $1,340 oz as dollar turns weaker
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Posted On: 10/24/2013 8:00:51 AM
Gold takes back $1,340 oz as dollar turns weaker
LONDON (MarketWatch) — Most metals prices moved higher on Thursday, with gold futures reclaiming $1,340 an ounce as a weaker dollar spurred buying in dollar-denominated commodities. A softer greenback generally supports metals traded in the U.S. currency as they become cheaper to other currency holders. Gold for December delivery (CNS:GCZ3) rose $6.20, or 0.5%, to 1,340.20 an ounce, essentially recovering from a 0.6% loss on Wednesday. Silver for the same month (CNS:SIZ3) was also on the rise, up 16 cents, or 0.7%, to $22.77 an ounce. Platinum for January delivery (NMN
LF4) gained $9.10, or 0.7%, to $1,448.00 an ounce, while December palladium (NMNAZ3) picked up 90 cents, or 0.1%, to $747.00 an ounce. Copper for December (CNS:HGZ3) was flat around $3.27 a pound.
LONDON (MarketWatch) — Most metals prices moved higher on Thursday, with gold futures reclaiming $1,340 an ounce as a weaker dollar spurred buying in dollar-denominated commodities. A softer greenback generally supports metals traded in the U.S. currency as they become cheaper to other currency holders. Gold for December delivery (CNS:GCZ3) rose $6.20, or 0.5%, to 1,340.20 an ounce, essentially recovering from a 0.6% loss on Wednesday. Silver for the same month (CNS:SIZ3) was also on the rise, up 16 cents, or 0.7%, to $22.77 an ounce. Platinum for January delivery (NMN
LF4) gained $9.10, or 0.7%, to $1,448.00 an ounce, while December palladium (NMNAZ3) picked up 90 cents, or 0.1%, to $747.00 an ounce. Copper for December (CNS:HGZ3) was flat around $3.27 a pound.
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