Gold News & Info

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold edged up slightly to close just under $1,254, notching its second winning session out of three, as safe-haven buying in the Eurozone was offset by sustained risk-appetite in the U.S. on a day of little new economic data. The ECB's decision last week to deepen monetary easing to offset deflation and stimulate growth is raising concerns about the value of the euro, nudging European investors toward gold as an alternative store of value and a hedge against long-term inflation.

U.S. equity indexes continued their streak following Friday's solid non-farm payrolls report. The Dow and S&P both picked up another 0.1% while the Nasdaq added 0.3%. The dollar also strengthened against most major rivals, but not enough to smother gold's modest rise. The other precious metals were mixed, with silver rising 0.4% and platinum 0.1% while palladium slipped 0.3%.

At the Comex close: August gold edged up 1.40 to $1,253.90; July silver gained nearly 8 cents to $19.07; July platinum added $1.30, to $1,454.30; and September palladium slipped $2.65 to $841.60 an ounce.