GOLD IS TRADING BELOW $950 MONDAY

Updated: 07/27/2009 09:39
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Early on Monday gold prices crept down paring late Friday’s gains as investors considered US currency and stocks for direction after economic...

Early on Monday gold prices crept down paring late Friday’s gains as investors considered US currency and stocks for direction after economic optimism fueled inflation concerns and boosted appeal on gold as security tool.

Spot gold lost 0.1% falling to $949.60 per ounce as of 00:02 GMT, compared to Friday’s New York's notional close of $950.35 ounce. Bullion bounced back above $950 per ounce on Friday, but remained below the 6-week high of $957.10 touched Thursday.

US gold futures for August delivery GCQ9 declined by $4, or 0.4%, to $949.10 per ounce. The contract settled down $1.70 at $953.10 on Friday on the COMEX division of the New York Mercantile Exchange. The SPDR Gold Trust GLD holdings stood at 1,086.61 tonnes as of July 24, unchanged from Friday.

According to a senior company official Friday’s statement, US exchange-traded product managed by London's ETF Securities, ETFS Silver Trust, is expected to hold assets of more than 1 billion over the next 6 to 12 months.

At the same time of 23:53 GMT the other precious metals was quoted as much as:

  • Metal Last Change Pct chg Day ago pct MA 30 RSI
  • Spot gold $949.95 -$0.40 -0.04% +5.90% $860.10 68
  • Spot silver $13.79 -$0.07 -0.51% +15.11% $11.29 66
  • Spot plat $1182.50 -$2.50 -0.21% -0.21% $1159.93 63
  • COMEX gold $950.60 -$2.50 -0.26% -0.44% $934.12 67
  • TOCOM gold 2,908 10 +0.35% +0.21% 2,851 63
  • TOCOM plat 3,619 37 +1.03% +1.17% 3,558 58
  • TOCOM prices are in yen per gram, except TOCOM silver which is priced in yen per 10 grams.

Spot prices are in $ per ounce.

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