WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-11-29 Time: 20:00:05 Posted By: Jan
SAN FRANCISCO (MarketWatch) – – Gold futures rose 1.5% Tuesday after military hostilities on the Korean peninsula gave investors more reason to seek safety in the metal.
Gains in gold for December delivery (GCZ10, Trade ) accelerated during the session, and the metal settled up $19.80 to $1,377.60 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures rose modestly Monday, helped by worries about European sovereign debt as investors wanted to hear more details about a bailout package for Ireland.
North Korea and South Korea, however, have become the latest focus of worry for investors.
The two countries exchanged artillery fire at a South Korean island near their western border, according to reports. South Korea’s military had gone to its highest state of alert.
A rising dollar kept gold prices from ballooning even higher. The dollar index (DXY ), which gauges the U.S. unit against a basket of six other currencies, gained 1.2% to 79.615.
The euro declined sharply, following comments from German Chancellor Angela Merkel about the European currency’s fragile state ahead of the Irish rescue. The single currency recovered somewhat later on. See more on trading in the dollar and other global currencies.
Silver, meanwhile, wobbled after opening higher, at times dipping in the red.
The December contract (SIZ10, Trade ), however, held on to gains to close up 11 cents, or 0.4%, to $27.57 an ounce.
Gold and silver are “profiting from the renewed rise in risk aversion, which has intensified again by an attack on a South Korean island by North Korea overnight,” analysts at Commerzbank said in a note to clients.
The silver contract had gained 1% on Monday. “Silver is still reaping benefit from robust [exchange-traded fund] demand,” the Commerzbank analysts said.
The iShares Silver Trust (SLV, Trade ) had inflows of 27 metric tons Monday. Since the start of the month, 700 metric tons of silver found their way to the ETF.
By contrast, gold holdings of the SPDR Gold Trust (GLD, Trade ), the largest gold-backed ETF, have fallen by 8 metric tons this month, and 4.2 metric tons of gold left the ETF on Monday.
Copper tracked equities and other commodities such as oil to end lower on Tuesday. December copper (HGZ10, Trade ) declined 5 cents, or 1.4%, to $3.71 a pound. That was copper’s second consecutive closing in the red, and it comes after the metal rose above $4 per pound earlier this month.
Platinum and palladium followed gold. Platinum for January delivery (PLZ10, Trade ) added $2.20, or 0.1%, to $1,657.70 an ounce.
Palladium for December delivery (PAZ10, Trade ) rose $6.40, or 0.9%, to $691.10 an ounce.