Gold and Oil News
Gold and Oil News - December 29, 2010 20:45
Gold prices settle above $1,400
Gold prices have settled above the $1,400 mark and are making a third run at maintaining this level to close out 2010.
Oil prices at two-year high
Oil prices are pushing higher after reaching the highest mark in two years this week. A barrel of light sweet crude settled at $91.51, up $1.03, on the New York NYMEX Futures board Wednesday (December 23).
Risk appetite keeps gold prices in check
US equities remain near 2010 highs as the Dow flirts with the 11,500 level. Renewed appetite for riskier investments has kept gold prices under wraps in recent weeks.
Gold prices reach new high as dollar weakens
Gold prices continue to move to new all time highs with a lower dollar this week. One ounce of gold approached $1,431 in early New York NYMEX trade Tuesday (December 7) morning and currently nets $1,429.40.
Oil prices near 2010 high
Watching oil prices move in the last several months has been like watching grass grow, relative to the highly volatile action during the summer of 2008.
Gold breaks $1,400 for the first time
After a slightly extended up-and-down effort to take hold of the $1,300 level, gold prices wasted little time moving past $1,400. The Monday (November 8) gold spot rate is $1,406.30 in lunchtime trade on the New York NYMEX.
Oil price gains halted as dollar gains
Gains in the dollar have put a brief halt in a three-day run of gains in oil prices. Benchmark crude oil scheduled for December delivery currently (October 27) trades at $81.73 in early New York NYMEX trade.
Oil and gas prices higher with equities
Surging equity markets have helped push oil prices through the $80 level. Benchmark crude oil scheduled for November delivery trades at $83.14 in early New York Mercantile Exchange trade Tuesday (October 19) morning.
Gold, euro continue gains on weak dollar
Despite some positive earnings reports, investors remain concerned about recovery prospects in the US. Analysts are also mixed about the long-term effects of the Fed buying Treasuries to help spark the economy.
Gold, oil prices rise on dollar weakness
Just as major currencies are making gains against the sour dollar this week commodities like gold and oil are moving higher as well. The current Gold price has a (September 30) spot rate at $1,312 in early New York NYMEX trade and benchmark crude oil scheduled for November delivery is priced at $78.71.
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