Gold News & Info

Source: Bill Musgrave, American Gold Exchange

Austin— Gold gained 0.3%, rising for a fifth session to close near a three-week high above $1,191, as renewed fears about Greece's ability to meet bailout requirements boosted safe-haven demand.

Greece is on course to run out of money by April 20, according to a report from Reuters, which would push it to the brink of bankruptcy and perhaps out of the Eurozone. The struggling nation has been unable to produce a package of reforms acceptable to its so-called troika of creditors�the ECB, EU, and IMF. Without these reforms Greece will not receive the tranche of aid it needs to function.

Gold rose despite a stronger dollar, which reversed its recent slide in response to some improving U.S. economic data. Manufacturing ticked up in March, according to Markit's PMI report. Consumer inflation rose for the first time in four months, climbing 0.2% in February. However, annualized inflation is flat and remains a key concern for the Fed as it weighs when to lift interest rates from near zero for the first time since 2008.

The other precious metals were mixed. Silver picked up 0.5% while platinum and palladium fell 0.3% and 0.7%, respectively.

At the Comex close: April gold gained $3.70 to $1,191.40; May silver added 9 cents to $16.98; April platinum dropped $3 to $1,141.50; and June palladium lost $7 to $$763.70 an ounce.