US Gold (AMEX:UXG), Golden Star Resources (AMEX:GSS), Royal Gold (Nasdaq:RGLD) and Barrick Gold (NYSE:ABX) closed mixed Thursday as gold and silver prices broke all-time records. It appears investors are taking some profits off the top.
Gold prices shot up while silver prices popped Thursday as investors bought the metals against a weak dollar and higher inflation expectations.
Gold for June delivery settled $14.10 higher at $1,531.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price soared to a record intra-day level of $1,538.80 an ounce while the spot gold price rose $6.90.
Silver prices for July moved up $1.55 to settle at $47.54 an ounce.
Spot silver jumped almost 4 percent Thursday to an all time high at $49.51 an ounce, surpassing the previous record set in 1980.
The ICE Futures U.S. Dollar Index was down 0.4 percent. The collapsing greenback aided dollar-denominated gold and silver by making them less expensive for foreign buyers, generating more demand.
No comments:
Post a Comment