Gold fell last night for the first time last night, as the Dollar strengthened, however it has had a good start to trading today. The Dollar Index rose 0.7% to 75.668 supported by comments by Treasury Secretary Timothy Geithner. Some analysts have pointed to the sell-off in oil as a reason for the decline in gold, as the two commodities can follow one another.
Gold & Silver
- There was a reported increase in the worlds largest silver backed ETF hitting a record high
- The worlds largest gold ETF reported unchanged holdings
- South Africa, the worlds third largest gold producer, said that output had fallen by 9.3% in volume terms in September compared to the same period 12 months earlier
Major Economic News
US Trade Balance