This Day On The Street
Continue to site
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

Gold Edges Up, Gaining For A 12th Consecutive Year


Gold prices edged higher Monday after President Obama said that a budget deal to avoid the "fiscal cliff" was in sight, if not yet complete. The advance capped a 12th consecutive year of gains.

February gold rose $19.90, or 1.2 percent, to $1,675.80 an ounce.

Gold gained almost 7 percent in 2012 after starting the year at $1,566.80.

Investors have been buying gold as a safe haven and as protection against inflation while the value of the dollar declined. The metal has gained almost six-fold since the start of 2000.

In other metals trading, copper advanced 6.3 cents, or 1.8 percent, to $3.6525 a pound, after a report showed that Chinese manufacturing hit a 19-month high in December, indicating that the world's second-largest economy is gaining momentum following a global slowdown. Copper is used in many industries and its price fluctuates with the outlook for global economic growth.

Silver, platinum and palladium also gained.

Silver for March delivery rose 25.20 cents, or 0.8 percent, to $30.277. April platinum advanced $20.80, or 1.4 percent, to $1,542.40 an ounce and March palladium gained $3.05, or 0.4 percent, to $703.35 an ounce.

In energy trading, crude oil futures prices ended higher on the New York Mercantile Exchange, rising $1.02, or 1.1 percent, to close at $91.82 a barrel.

Gasoline for January rose 1.21 cents, or 0.4 percent, to $2.8120 a gallon. Heating oil was little changed at $3.0451 a gallon. Natural gas for February fell 11.8 cents to $3.3510 per 1,000 cubic feet, a drop of 1.1 percent.

Prices for agricultural commodities were mixed. In March contracts, wheat fell 0.75 cents, or 0.1 percent, to $7.78 a bushel. Corn rose 4.25 cents, 0.6 percent, to $6.9825 per bushel. Soybeans fell 8.5 cents to $14.095 per bushel, a drop of 0.6 percent.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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!


DOW 18,120.78 +40.64 0.22%
S&P 500 2,121.90 +4.21 0.20%
NASDAQ 5,102.2320 +10.1470 0.20%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs