Gold
$1,803.00
+4.00
Silver
$19.44
+0.41
Platinum
$847.00
+11.00
Palladium
$1,998.00
+8.00
800-444-8317
800-444-8317
Explore Monex
Price/Value
January 2, 2008

Will commodity prices be strong in 2008?

Price Value

"Gold’s advance leads way for oil and platinum

Commodity markets made a flying start to 2008 with gold, oil and platinum setting records during the first trading session of the new year.

Gold led the initial advance, rising 3.3 per cent to $861.10 a troy ounce, surpassing the previous high of $850 reached in January 1980. The metal later eased back to $858.10 in late London trading.

Traders said there was consistent selling pressure on gold in December as investors booked profits before the year-end, but that drag had cleared and Wednesday’s price rise indicated the strength of underlying sentiment.

Gold also found support from renewed dollar weakness after the influential ISM manufacturing survey indicated that industrial activity contracted in December, fuelling fears that the US economy could be dragged into recession as weakness in the housing market spreads into other sectors.

Gold’s strength spilled over into platinum, which rose 1.6 per cent to $1,544 a troy ounce."

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

See What Investors are Saying About Monex

Thank You!
Want your kit sooner?
Faster delivery is available by phone.
800-444-8317
Get Your Free Report

A New Decade for
Precious Metals Investing

  • All form fields are required

  • Privacy Policy
  • This field is for validation purposes and should be left unchanged.
Download Your Report