Gold Seeker Closing Report: Gold and Silver Gain About 1% While Miners Surge 7%

Jon Economy, Fiscal Policies, Gold, Market Commentary, Precious Metals, Silver

The Metals:
Gold climbed $9.82 to $1220.42 at about 5:30AM EST before it fell back to $1205.12 by early afternoon in New York, but it then shot back higher after the release of today’s fed minutes and ended with a gain of 0.98%. Silver rose to $17.471 before it slipped back to $17.062, but it then bounced back higher in the last couple of hours of trade and ended with a gain of 1.22%.
Euro gold rose to about 959, platinum gained $22 to $1278, and copper fell slightly to about $3.03.
Gold and silver equities fell over 1% by midday, but they then stormed back higher in afternoon trade and ended with about 7% gains.

This post was published at GoldSeek on 8 October 2014.