Gold recovered for a second straight day on July 9 after Friday’s nonfarm payroll employment numbers caused commodities to drop.
Gold recovered for a second straight day on July 9 after Friday’s nonfarm payroll employment numbers caused commodities to drop. Gold for August delivery on the Comex in New York rose $14.10, or 1.2 percent to $1,248.90 an ounce. This price increase, combined with Monday’s gain of $22.20an ounce, erases Friday’s 3.1 percent drop.
Spot gold prices also gained $13.20, a 1.1 percent increase, to reach $1,251 an ounce.
Carsten Fritsch, an analyst with Commerzbank, told MarketWatch gold is at risk for more selling Wednesday after the Federal Open Market Committee’s minutes of its mid-June meeting will be released, giving more clues as to the Fed’s plans for its stimulus package.
MARKETS
COMMODITIES
Commodities | |||
---|---|---|---|
Gold | 1878.35 | +10.18 | |
Silver | 22.37 | +0.09 | |
Copper | 4.03 | 0.00 | |
Palladium | 1713.17 | 0.00 | |
Platinum | 1087.26 | 0.00 | |
Oil | 76.18 | +2.07 | |
Heating Oil | 2.87 | +0.10 | |
Natural Gas | 2.52 | +0.07 |
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