South Africa: Gold Shrugs Off Russian Rocket And Soars

Cautious investors took profits after gold breached $318 an ounce on Wednesday, but bugs were undeterred today (Thursday) and loaded up once more to propel the price to nearly $324. The price cooled in the late afternoon on renewed profit taking and closed the New York session just above $321.

June COMEX futures pushed to their best levels since June 2000. Spot gold was last bid at $322.50, a gain of more than $5 and well up on the London afternoon gold fix that was set at $317.15. Spot silver was bid at $4.89, up 8 cents on the day, and well within range of the key $5 level. Silver is seeing its highest price in 15 months.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.