RTTN: Gold Extends Record High On Safe Haven Buying
(RTTNews) - The price of gold advanced to a fresh record high Tuesday morning on safe haven buying.
Gold for February delivery, the most actively traded contract, gained $12.50 to $1,428.60 an ounce. Yesterday, gold advanced to fresh record high of $1,429.40 before settling at $1,410 amid lingering worries over the euro zone debt situation.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,298.03 tons.
Meanwhile, the U.S. dollar was ticking lower versus the euro and moved back near its 2-week low against sterling. The buck was edging lower against the Swiss Franc and trading relatively flat versus the yen.
Elsewhere, the prices of silver and platinum moved higher in morning deals.
Later during the session, the U.S. Federal Reserve will release its monthly consumer credit report for October. Economists expect the outstanding consumer credit to decline by $2.5 billion.
by RTT Staff Writer
(RTTNews) - The price of gold advanced to a fresh record high Tuesday morning on safe haven buying.
Gold for February delivery, the most actively traded contract, gained $12.50 to $1,428.60 an ounce. Yesterday, gold advanced to fresh record high of $1,429.40 before settling at $1,410 amid lingering worries over the euro zone debt situation.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,298.03 tons.
Meanwhile, the U.S. dollar was ticking lower versus the euro and moved back near its 2-week low against sterling. The buck was edging lower against the Swiss Franc and trading relatively flat versus the yen.
Elsewhere, the prices of silver and platinum moved higher in morning deals.
Later during the session, the U.S. Federal Reserve will release its monthly consumer credit report for October. Economists expect the outstanding consumer credit to decline by $2.5 billion.
