Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold extended its gains by 50 cents to close at $1,518.60, near a three-month high, after US airstrikes against Hezbollah combined with weakness in equities and the dollar to support haven buying. It was the metal's fifth straight winning session.

The US struck at Kataib Hezbollah in Iraq and Syria on Sunday, killing at least 25 militia soldiers, in retaliation for the death of a US civilian contractor killed in a rocket attack on an Iraqi base. The Trump administration blamed Iran for the action and warned that further military action could be warranted.

Meanwhile, all three major US stock indexes fell around 0.6% as traders took profits from recent rallies to all-time highs.

The dollar dropped 0.2% against major rivals led by the euro as recent Eurozone data shows the region's economy on the rebound. The pending trade deal with China, due to be signed next week, has also prompted the shift into riskier currencies. A weaker dollar supports gold by making it less expensive overseas.

The other precious metals were mostly higher, with silver and platinum adding 0.3% and 0.9%, respectively, while palladium dipped 0.1%.

At the Comex close: February gold rose 50 cents to $1,518.60; March silver added 6 cents, to $18; April platinum picked up $8.80 to 965.40; and March palladium dipped 70 cents to $1,880.50 an ounce.