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 Prices Rise, Platinum Surges (Update 1)

In Europe, inflation spiked in Germany as the Federal Statistics office reported that prices increased 2.1% year over year in December. Inflation in the U.K. held steady at 2.7% against a year earlier in December; inflation also remained steady in Italy at 2.6%.

Investors often look to gold as a hedge against inflation.

The euro, which had rallied against the U.S. dollar for the previous three trading sessions, retreated against the greenback for the first time since European Central Bank President Mario Draghi forecast last Thursday a positive outlook for the region by late 2013.

The euro was slipping to $1.3287 against the dollar, which was off the prior day's close at $1.3382.

The Fed's Empire State Manufacturing Survey said Tuesday that general business conditions remained in contraction for January with a negative 7.8 reading. December's reading came in at negative 8.10. A flat read for January was expected.

Gold mining stocks were mostly higher on Tuesday. Shares of Kinross Gold (KGC - Get Report) were rising 2.7%, while shares of Goldcorp (GG - Get Report) were adding 1.5%.

Among volume leaders, Barrick Gold (ABX) was increasing 1.8%.

Gold ETF SPDR Gold Trust (GLD) was up 0.85%, while iShares Gold Trust (IAU) was rising 0.92%.

-- Written by Joe Deaux in New York.

>Contact by Email.

2 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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GLD $122.07 -0.11%
IAU $12.34 -0.16%
GG $18.73 1.46%
KGC $5.29 4.34%
AAPL $93.24 -0.41%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs