Hong Kong Completing 1,000 Ton Gold VaultSubmitted by PWA on Thu, 07/26/2012 - 13:37
Gold’s Rally Short Term? Long Term Outlook Bullish
Today's AM fix was USD 1,603.00, EUR 1,321.74, and GBP 1,034.26 per ounce.
Yesterday’s AM fix was USD 1,587.50, EUR 1,309.39 and GBP 1,024.86 per ounce.
Silver is trading at $27.79/oz, €22.77/oz and £17.89/oz. Platinum is trading at $1,416.00/oz, palladium at $570.75/oz and rhodium at $1,150/oz.
Gold climbed $22.20 or 1.04% in New York yesterday and closed at $1,604.50/oz. The silver price hit a high of $27.559 and finished the day with a gain of 1.3%.
Gold was trading sideways in Asia with a slight rise and fall before the open in European trading where gold is in a tight range of ($1,601-$1,608/oz).
Gold ticked up again on Thursday, its 3rd session of gains, on investor hopes for additional stimulus packages to be released by central banks increased the yellow metal’s appeal as an inflation hedge.