Today’s AM LBMA Gold Price was USD 1,187.75, EUR 1,107.92 and GBP 792.31 per ounce.
Yesterday’s AM LBMA Gold Price was USD 1,202.40, EUR 1,113.44 and GBP 799.19 per ounce.
Silver in U.S. Dollars – 10 Years
Strong U.S. housing data sent spot gold in Singapore below the $1,200/oz level in its largest drop in a month. U.S. home resales surged to its highest figure in 18 months. There has been six consecutive months of home sale increases. This data may prompt investors to revisit the possibility of a June Fed interest rate hike.
The U.S. FOMC has a policy meeting next week April 28-29th. The dollar also strengthened which weighed on the yellow metal. A large bullion price drop often triggers technical selling.
The Greek debt crisis still looms over the precious metals market and supports safe haven bids for bullion.
In London in late morning trading gold is flat at $1,189.00. Silver is up 0.30% at $15.88. Platinum is down 0.35% at $1,128.00.