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Fundamental Precious Metals: Gold at ease finally!
Written by article default Monday, 04 October 2010 04:40
The U.S dollar came to save the day as it rose in early hours which resulted in calming down gold prices that have surged uncontrollably the past week to record historic prices, yet a lot of investors speculate monetary easing measures by the Fed which will once again drown the dollar and skyrocket gold.The dollar index that measures the dollar's performance versus six major currencies including the Euro, Yen and Sterling pound climbed from opening level of 78.21 as it currently reads 78.30, recording a days high of 78.52, and a low of 78.08.
Gold changed from the Am fixing of $1316.00 per ounce in London to reach $1313.50 per ounce in the PM fixing. Silver on the other hand was fixed on $22.03 per ounce.
The most expensive metal traded "the Platinum" changed from the Am fixing of $1668.00 per ounce to reach $1667.00 per ounce in the PM fixing. As for the Palladium, it changed from the Am fixing of $566.00 per ounce to reach $565.00 per ounce in the PM fixing.
The commodity index CRB fell 1.31 points or 0.53% to reach 284.19 points recording its highest level on 285.27 points and its lowest level on 283.81 points.
The Dow Jones UBS index which contains future contracts of 19 tangible commodities with somewhat equal weights, fell today by 0.97 points or 0.69% from yesterdays closing level of 139.14 points to currently trade at 138.17 points, the index recorded its highest level at 138.59 points and it lowest level at 138.05 points.
Gold is currently traded at $1314.72 and recorded its highest price at $1319.75 and its lowest prices at $1312.20 per ounce after opening at $1317.20. Silver which is currently traded at $22.04 recorded its highest price at $22.16 and its lowest prices at $21.90 fell from the opening price of $22.12 per ounce.
Platinum which is currently traded on $1668.00 recorded its highest price at $1677.50 and its lowest prices at $1661.00 falling from opening price of $1672.00 per ounce. Palladium is currently traded at $560.00 and recorded its highest price at $571.25 as it fell from opening price of $566.00 per ounce.