This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Spot Gold Prices Grounded in Positive Territory


NEW YORK ( TheStreet) -- Spot gold prices were grounded in positive territory midday Thursday as the dollar continued to fall against a basket of major currencies and the economic picture brightened and helped lift stocks.

Lingering in the back of gold's positive action were worries about the euro-zone's debt crisis, though those worries were abating with the help of liquidity moves by the European Central Bank.

The U.S. dollar index was sliding by 0.7% to $80.19 as U.S. pending home sales rose in October and November same-store sales in the U.S. largely topped estimates, signaling inflationary forces ahead -- which is bullish for gold. On Thursday, Bloomberg reported that Goldman Sachs recommends a short dollar position against the Chinese yuan, with the view that the greenback will fall against the yuan next year because of trade imbalances.


New York spot gold prices were rising by $1.80, or 0.1% to $1,388.40, according to Kitco's spot price index.

Spot silver prices were ticking up 24 cents, or 0.8%, to $28.66.
Most Recent Quotes from www.kitco.com

Spot platinum prices were up by $24, or 1.4%, to $1,709 an ounce as its sister metal strengthened.
Most Recent Quotes from www.kitco.com

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
PAL $0.06 6.73%
FCX $20.82 0.00%
SWC $13.05 0.00%
SVM $1.22 0.00%
AAPL $130.28 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs