Futures Market News
Gold, silver futures climb
Mar 15, 2012 01:31 PM
The yellowish metal was heading toward its poorest weekly performance since the middle of December of last year, Reuters reports. Losses from Monday through Wednesday, which were attributable to the world's reserve currency gaining value, provided an opportunity for investors to purchase bullion at better prices.
"The mood remains fairly somber amongst the gold bulls this morning," states a note penned by global precious metals director Steve Scacalossi with TD Securities on Thursday, according to Dow Jones Newswires. "Yesterday's selloff took out some key technical supports in both gold and silver."
At 2:06 p.m. on Thursday, gold futures climbed 1.17 percent, a $19.20 increase to $1,662.10 per troy ounce. Silver futures increased 1.78 percent, a 57.4 cent lift to $32.755 per troy ounce.
The record price for gold is $1,923.70 per troy ounce, which was set on September 7 of last year. The record price for silver futures is $50.35 per troy ounce, which was set in January 1980 when the Hunt brothers of Texas attempted to corner the market.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: The Future of Natural Gas in the U.S.
Are you interested in the Energy futures market? Sign up and receive our detailed report today!
Through our exclusive research, you will have access to current global events and price projections that may help you learn how this particular market has the potential to be a strong investment as a commodity.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.