Comex Gold Higher On Follow-Though
1455 GMT [Dow Jones] - Comex gold and silver are higher, which appears to be in large part due to momentum-based buying after Friday's sharp rise, a trader says. While down from Friday's record high, the euro overall remains strong against the dollar. That had helped Dec gold rise $26.10 Friday, and this morning it's up another $5.40 to $830.10 an ounce. "This is just follow-through," says the trader. "We had sort of a technical breakout last week. It's just continuing." There appears to be both short covering and fresh buying, he adds. Dec silver is 12 cents stronger at $14.855. (ALS)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment