Gold And Gold Miners Rebound After Yesterday's Sell Off

Gold is Melted by a Goldsmith in India

Photo: AP Photo/Anil Dayal

Open outcry is over on the COMEX, but precious metals continue their ascent in electronic trading. Gold for December delivery is at $1,641 a troy ounce, up $26.50 from yesterday’s settle. Gold miners are up on today’s gain.

  • Goldcorp (NYSE: GG): Up 4.04% to $45.34
  • Barrick Gold Corp. (NYSE: ABX): Up 2.91% to $45.90
  • Newmont Mining Corp. (NYSE: NEM): Up 2.19% to $62.62

Some economists view the recent trading pattern as buy time for the metal. Silver and platinum also posted gains today. Silver is up 50 cents to $30.33 while platinum added less than one per cent to end at $1482.90.Yesterday, gold and silver December futures fell 3% to $1,616 and $29.84, respectively. Commodities have receded as the U.S. dollar has gained momentum against the Euro. The Euro is now worth $1.33, down 10% from this summer’s high of $1.48.

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