Gold stays high on Europe concerns
Thursday, 10 June 2010
SINGAPORE, June 9 (Commodity Online): Gold prices continued its northern journey in Asian trade Wednesday as concerns over European debt crisis escalated.
Gold for immediate delivery was seen trading at $ 1237.43 an ounce at 11.00 am Singapore time while US gold futures for August delivery eased after hitting an all-time record overnight.
The contract was seen trading at $1236.59 an ounce at 11.00 am Singapore time on the comex division of Nymex.
Silver for immediate delivery rose 0.2 per cent to $18.3150 an ounce, palladium added 0.9 per cent to $446.50 an ounce, while platinum slid 0.3 per cent to $1523.35 an ounce.
Gold has gained as much as 14 per cent in 2010, underpinned by worries the sovereign debt crisis in Europe may spread and hurt global economic growth and uncertainties over the future of US interest rates.
Gold for immediate delivery was seen trading at $ 1237.43 an ounce at 11.00 am Singapore time while US gold futures for August delivery eased after hitting an all-time record overnight.
The contract was seen trading at $1236.59 an ounce at 11.00 am Singapore time on the comex division of Nymex.
Silver for immediate delivery rose 0.2 per cent to $18.3150 an ounce, palladium added 0.9 per cent to $446.50 an ounce, while platinum slid 0.3 per cent to $1523.35 an ounce.
Gold has gained as much as 14 per cent in 2010, underpinned by worries the sovereign debt crisis in Europe may spread and hurt global economic growth and uncertainties over the future of US interest rates.