Precious Metals

Reuters reported the price of gold dropped from a near six-month high, down 0.14 percent to $1,681 an ounce, as the eve of a European Central Bank meeting brought on low volumes of trading.

Reuters reported the price of gold dropped from a near six-month high, down 0.14 percent to $1,681 an ounce, as the eve of a European Central Bank meeting brought on low volumes of trading.

As quoted in the report:

Gold prices stayed within a $9 range a day after testing the $1,700 an ounce level. With just over 100,000 lots changing hands, volume was less than half the 30- and 250-day averages and close to a third of Tuesday’s heavy trade.

Adam Sarhan, chief executive of Sarhan Capital, commented:

The big investors are not committing new money at this stage. Buying on the eve of a big ECB meeting is not wise. To come out and buy today, you’re late to the party.

Click here to read the full Reuters report.

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COMMODITIES

Commodities
Gold1838.90+7.89
Silver21.51+0.37
Copper3.77+0.02
Palladium1930.50+53.50
Platinum916.00+5.00
Oil107.47-0.15
Heating Oil4.22-0.03
Natural Gas6.08-0.14

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