Gold prices rallied today to log their highest settlement in nearly three weeks as growing unrest in Iraq and weakness in U.S. equities drove demand.
Gold for August delivery increased 1 percent to finish at $1,274 an ounce on the Comex division of the New York Mercantile Exchange. Prices marked their highest settlement since May 23, based on the most-active contracts.
In other metals, July silver rose 1.9 percent to end at $19.53 an ounce, the highest close for a most-active contract since mid-May.
July platinum slipped 2.7 percent to $1,441.30 an ounce on Comex, and September palladium 4.7 percent to $819.40 an ounce. Palladium dropped as progress toward a resolution to the mining strike in South Africa was reported.
High-grade copper for July delivery dipped 0.8 percent to finish at $3.02 a pound.
In energy markets, oil futures leaped today to finish at their highest level since September as violence in Iraq sparked strong concerns of potential disruptions to the nation's oil supplies.
July crude rose 2 percent to end at $106.53 a barrel on the New York Mercantile Exchange. That's the highest close for a most-active contract since Sept. 18.
Militants linked to al-Qaeda extended control over Mosul, Iraq’s second-largest city, and moved south toward Baghdad as Oil Minister Abdul Kareem al-Luaibi said U.S. planes may bomb northern Iraq
Reported by Proactive Investors 5 hours ago.
Gold for August delivery increased 1 percent to finish at $1,274 an ounce on the Comex division of the New York Mercantile Exchange. Prices marked their highest settlement since May 23, based on the most-active contracts.
In other metals, July silver rose 1.9 percent to end at $19.53 an ounce, the highest close for a most-active contract since mid-May.
July platinum slipped 2.7 percent to $1,441.30 an ounce on Comex, and September palladium 4.7 percent to $819.40 an ounce. Palladium dropped as progress toward a resolution to the mining strike in South Africa was reported.
High-grade copper for July delivery dipped 0.8 percent to finish at $3.02 a pound.
In energy markets, oil futures leaped today to finish at their highest level since September as violence in Iraq sparked strong concerns of potential disruptions to the nation's oil supplies.
July crude rose 2 percent to end at $106.53 a barrel on the New York Mercantile Exchange. That's the highest close for a most-active contract since Sept. 18.
Militants linked to al-Qaeda extended control over Mosul, Iraq’s second-largest city, and moved south toward Baghdad as Oil Minister Abdul Kareem al-Luaibi said U.S. planes may bomb northern Iraq
Reported by Proactive Investors 5 hours ago.