Precious Metals Dip, XAU Falls 1.6%
Precious metals futures closed modestly lower on Monday amid profit-taking and a small rebound in the U.S. dollar.
COMEX gold futures for December delivery settled down by $8.70, or 0.5%, at $1,731.80 per ounce after trading in a narrow range for most of the day.
The COMEX December silver futures contract ended with a loss of $0.06, or 0.2%, at $33.63 per ounce.
As for gold and silver stocks, the Philadelphia Gold & Silver Index (XAU) fared worse than the metals. The XAU finished down by 1.6% at 176.47; however, today’s sell-off followed a 5.5% advance last week.
Within the sector, notable decliners included XAU components Eldorado Gold (EGO), Hecla Mining (HL), and Royal Gold (RGLD). EGO slid by 3.5% to $14.16, HL by 2.4% to $5.68, and RGLD by 2.4% to $88.28 per share.
While the metals began the week on a negative note, they remain substantially higher thus far in September. On a month-to-date basis, the price of gold and silver are now up by 2.3% and 5.8%, respectively.
Looking ahead, many investment strategists see gold remaining strong into year-end. Deutsche Bank analyst Michael Lewis wrote in a recent note to clients that “The combination of QE and dollar weakness has reignited the interest of the private sector. Central banks and the public sector have already been aggressive buyers of gold, so it doesn’t change our view. It makes us more relaxed about the view.”
In July, Lewis predicted that the price of gold would average $1,726 per ounce in 2012 and would climb to $2,000 early in 2013.
Source:
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,708,304,013 |
| Stories: | 8,450,116 |
Whistler Blowers, Insiders
