Morning Gold Fix – October 1, 2010
FMX | Connect – www.fmxconnect.com - (Reported 10/01/2010)
The following is a summary of yesterday’s US gold activity and a recap of Asia & European markets overnight. It includes our proprietary options analytics and news stories from industry professionals.
Summary
December Gold settled at $1309.60 per 100 troy ounces on Thursday, a net loss of $.70 for the day
December gold was up $7.40 to $1317 per 100 troy ounces as of 7:30 AM EST, this morning. The December U.S. dollar index was down .428 to 78.51. October platinum was up $13.90 to $1665.90 per 50 troy ounces. December silver was up 13.9 cents to $21.96.
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Bloomberg (Reported 10/01/2010)
“Gold climbed to a record in London and New York as investors sought an alternative to a weakening dollar. Silver traded near a 30-year high and platinum rose to the highest level in more than four months.
The dollar headed for a third weekly drop against the euro amid speculation the Federal Reserve will take additional steps to shore up the faltering U.S. recovery, and before a report forecast to show manufacturing slowed in the country. Gold usually moves inversely to the greenback, and holdings of the metal in exchange-traded products are at an all-time high.” Gold Advances to a Record as Slumping Dollar Spurs Demand From Investors
Reuters (Reported 10/01/2010)
“Gold hit record highs for a sixth successive session on Friday as the dollar fell to a six-month low against the euro, with expectations for further U.S. monetary easing driving strong demand for the precious metal.
Spot gold touched a peak of $1,317.10 and was bid at $1,315.65 an ounce at 1013 GMT (6:13 a.m. EDT), against $1,305.25 late in New York on Thursday. U.S. gold futures for December delivery rose $8.20 to $1,317.80.” Gold at record for sixth day
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