Moneyline Blog

Gold and Precious Metals Rising

Good news has been released for investors in gold and other precious metals as futures have seen a recent rise for not just gold, but a variety of commodities due to an increasingly level of demand that follows a spate of positive economic news in the United States and elsewhere around the globe. Signs that the world wide recession may be on its way out are definitely spurring investors to greater confidence and gold for June delivery alone added nearly a full per cent to end up at over $1,133 per ounce in the New York Mercantile Exchange’s Comex division. Not only did precious metals like silver and copper see a strong advance, platinum and palladium both lead the entire category due to their strong use in not only industrial purposes, but also for fine jewelry. Gold and similar precious metals have tended to be a safe haven for investors during uncertain economic times and this year has been no exception to that rule. Investors have clung to the precious metals during recent years as currencies around the globe have proven to be less than reliable and business sectors across the markets have not performed to expectations set in the last decade, by far.

With platinum for July delivery settling in at just around $1,710 per ounce with a growth of 2 per cent, it comes in slightly under the growth of palladium which rose 3.4 per cent to end around $508 per share. Lesser valued silver for May delivery ended just over $18 per ounce with a growth of 1.3 per cent and copper held the same growth rate, coming in at $3.63 per pound.