Gold News & Info

Source:Bill Musgrave, American Gold Exchange

Austin— Gold gained 0.6% to close at a four-week high near $1,256 as the dollar and equities extended recent losses, boosting demand for alternative assets.

The Dow edged down 0.2%, on the way to its longest losing streak in more than six years, as traders responded to last week's setback in healthcare reform by eschewing risk. The CBOE Volatility Index jumped nearly 3% after climbing around 15% last, signaling growing fear in the market that more losses are imminent.

The dollar fell back 0.5% to its lowest level in fourth months on worries that the President Trump may have similar difficulty in corralling his party to enact tax reform and infrastructure spending. A weaker dollar boost gold and other commodities by making them less expensive to users of other currencies.

The other precious metals were mostly higher, with silver and platinum adding 2% and 0.1% while palladium fell 2.3%.

At the Comex close: April delivery gold gained $7.20 to $1,255.70; May silver rose 36 cents to $18.11; April platinum added $1.10, to $969; and June palladium dropped $18.90 to $794.45 an ounce.