Source: BullionVault.com , Author: Adrian Ash
Posted: Tue January 10, 2012 3:48 pm
INTERNATIONAL. The wholesale London spot gold price touched a 3-week high against the US Dollar in London on Tuesday morning, trading just shy of US$1,640 an ounce as world stock markets and industrial commodities also rose.
Silver bullion prices jumped above US$30 per ounce, rising more than 4.5% from last week's close, as German government Bunds eased back but other Eurozone bond prices ticked higher, edging interest rates lower.
Ahead of Thursday's meeting of the European Central Bank – widely expected to cut interest rates across the 330 million-citizen currency zone below 1.00% – the Euro currency edged up to its highest level since Friday lunchtime at US$1.28, some 1¢ above Sunday night's 16-month low vs. the Dollar.
"Precious metals are benefiting from a broad-based buying across asset classes," says Marc Ground at Standard Bank.
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