Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Settle Sharply Higher; Silver Prices also Rally

Monday, November 19, 2012 4:59 PM
Gold prices rose sharply on Monday as hopes that lawmakers will reach a deal before the year-end deadline on reducing U.S.’s deficit lifted investors’ sentiment. The precious metal also rallied amid reports that Greece will receive more funding. Silver prices also rallied on Monday. Gold prices gained as congressional leaders and President Obama expressed confidence that a deal on reducing U.S. fiscal deficit will be reached before the deadline. Hopes of a deal also sparked a rally in equity markets on Monday. Investors’ sentiment had been weighed down in the last two weeks on concerns that lawmakers in Washington DC would fail to reach a deal on deficit-reduction plan before the end of this year resulting in automatic spending cuts and tax increases worth nearly $600 billion taking effect on January 1, 2013, which would push the U.S. economy into a recession. However, congressional leaders and President Obama have shown confidence in reaching a deal and this has boosted sentiments. Gold prices also gained as the U.S. dollar weakened against the euro. At last check on Monday, spot gold was trading 1.03% higher at $1,731.15 an ounce. Gold futures for delivery in December on the Comex division of the New York Mercantile Exchange settled $20 higher at $1,734.40 an ounce. Silver prices also surged on Monday. At last check, spot silver was trading 2.73% higher at $33.09 an ounce. In late trading on Monday, the iShares Silver Trust (ETF) (NYSE: SLV) was up 2.76% to $32.07, the ProShares Ultra Silver (ETF) (NYSE: AGQ) was up 5.59% to $53.08, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) was down 5.41% to $42.67. Platinum and palladium also rallied. At last check, spot platinum was trading 1.09% higher at $1,571 an ounce, while spot palladium was trading 1.99% higher at $639.50 an ounce.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Oman likely to start cutting subsidies next year -ministerOman likely to start cutting subsidies next year -minister
KUWAIT (Reuters) - Oman`s government is likely to start cutting some state subsidies next year as the decline in global oil prices pressures its finances, Minister for Financial Affairs Darwish al-B...
Deutsche Bank lawyer found dead by suicide in New YorkDeutsche Bank lawyer found dead by suicide in New York
BERLIN (Reuters) - A senior Deutsche Bank regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday. Calogero Gambino, 41, was found on the...
Areva-Siemens raises claim to $4.4 billion over Finnish reactor delaysAreva-Siemens raises claim to $4.4 billion over Finnish reactor delays
HELSINKI (Reuters) - The French-German consortium Areva-Siemens <AREVA.PA><SIEGn.DE>, the supplier of Finland`s much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Fi...
India's finance minister favors interest rate cut: paperIndia's finance minister favors interest rate cut: paper
NEW DELHI (Reuters) - India`s Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has s...
China's auto market growth may halve to 7 percent this year: industry body headChina's auto market growth may halve to 7 percent this year: industry body head
SHANGHAI (Reuters) - Growth in China`s auto market, the world`s biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday. "Personal...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.