Tuesday 7 August 2012

Gold News: After two days followed by significant earnings drop


Tuesday moved downward the price of gold, succumbing to pressure from sell-off after two days of strong gains, including yesterday's closing price to a high one week.

The contract price, delivery in December fell $ 3.40 or 0.2% to $ 1,612.70 per ounce on the Commodity Exchange in New York.

"Investors are not looking at reality for safe havens," Lack of news that is not already discounted and retreat amid concerns about the euro zone, "investors avoided the gold today,”

In other metals, silver September delivery rose by 24 cents or 0.9% at $ 28.11 per ounce. The September copper gained 5 cents, or 1.6% to $ 3.22 a pound. Earnings also recorded platinum and palladium, with platinum closing in October +0.6% and $ 1,410 per ounce and palladium +1.4% in September and $ 587.50 per ounce.

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