Precious Metals Rally, Gold Tops $1700 Again

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Precious metals are rallying today, with silver seeing a tremendous 5.1% surge, to $32.72 per troy ounce.Gold December contracts remain up 1.2%, to $1699 per ounce. Gold briefly topped $1700 during open outcry on the CME.

Other metals also posted gains, with December Palladium and January Platinum contracts adding 3.1% and 1.8%, respectively.

Nevertheless, miners are mixed as the broader markets remain in neutral:

  • Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX): Down 1.1% to $35.07
  • Newmont Mining Corp (NYSE: NEM): Up 0.8% to $65.81
  • Southern Copper Corporation (NYSE: SCCO): Down 1.2% to $28.64

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