Gold Prices Begin Week Extending Gains
Source: Oil N' Gold, ecPulse (3/1/10)
"The precious metal prices are trading close to a one-month high. . ."
Yesterday, gold climbed $11.30 or 1.02% to close at $1,116.22 an ounce while the dollar lost strength six major currencies which are measured by the Dollar Index, declined Friday to close at 80.37 while recording a high of 80.80 and a low of 80.12.
Among other precious metals; platinum is traded at $1,557.50; palladium at $435.50; silver at $16.73; while, copper is at $337.98. Turning to commodity futures we see that last week, S&P GSCI closed at 517.48 points recording a high of 518.78 points and a low of 509.11 points while RJ/CRB Commodity closed at 274.77 points recording a high of 275.07 points and a low of 270.87.
SPDR gold trust Friday, the largest exchange-traded fund backed by bullion in the world, remained unchanged at 1,106.987 metric tons. Gold was set in London on Friday at $1,108.25 per ounce declining from $1,112.50 per ounce during the AM fixing.
In addition, stocks in Asia climbed after JPMorgan Chase & Co. increased their ratings on Japan's biggest financial institutions while mining company stocks also climbed, therefore supporting the overall Asian stock markets.
Currently, spot gold is traded at $1,121.61 an ounce recording a high of $1,123.39 an ounce and a low of $1,115.02 an ounce.