Precious Metals

Gold Futures Hit $1,248.90

Precious Metals

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

Markets
TSX20602.68-26.24
TSXV618.79+5.19
DOW33736.20-154.82
S&P 5004100.81-10.27
NASD11890.08+2.63
ASX7539.00-19.10

COMMODITIES

Commodities
Gold1878.35+10.18
Silver22.37+0.09
Copper4.030.00
Palladium1713.170.00
Platinum1087.260.00
Oil76.18+2.07
Heating Oil2.87+0.10
Natural Gas2.52+0.07

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