SAN FRANCISCO (MarketWatch) — Gold futures rallied more than 1% Tuesday, poised to settle at their fourth consecutive record high, as the dollar fell and concerns about European debt attracted more investors to precious metals.
Gold denominated in euros has traded at its highest since the end of June and 3% shy of its record high, analysts at Commerzbank said in a note to clients Tuesday.
“Concerns about the risk of insolvency of euro peripheral countries are back in the focus of market players,” they said.
Gold has surged to records since late August on expectations the Federal Reserve’s monetary stimulus will depress the dollar, making gold more valuable as an alternative store of wealth
“We see even more potential in silver and the rare earths, as they are precious but also industrial metals,” he said.
Read more at www.marketwatch.com
Copper for December delivery
/quotes/comstock/21e!f:hgz10
(HGZ10
403.00,
+7.35,
+1.86%)
added 7 cents, or 1.7%, to $4.03 a pound. A close around these levels would be copper’s highest since April 2008.
Niciun comentariu:
Trimiteți un comentariu