Good Morning, Overnight gains in the US dollar against the euro moderated gold buying overseas and actually gave rise to a modicum of profit-taking among hitherto unflappable speculators. Though dropping to near $1,310 during the wee hours can hardly be called a "correction," the yellow metal could possibly be exhibiting the first signs that a departure from the 'norm' that has had it notching new records on a daily basis of late could be in the cards. Monday's metals market action commenced with modest declines across the boards as the US dollar regained some of the ground it lost last week. Spot gold dealing opened at $1,314.30 per ounce, down $4.30 while silver fell 7 cents to start at $22.02 after a brief overnight dip to under the round figure. Platinum and palladium were off a bit as well, the former losing $5 and opening at $1,670.00 and the latter dropping $4 to start the day off at $569.00 the ounce.(...) Read the rest of Gold, Silver, Metal Prices Commentary – October 4, 2010 (1,086 words) © Jon Nadler for Coin News, 2010. | Permalink | Today's Collecting News | Post tags: bullion, gold, Jon Nadler, platinum, silver |
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