The Post Chronicle
The Post Chronicle


Business & Financial
Published: Aug 23, 2011
Gold Prices $1,900 Mark Eyed
by Staff

Gold prices soared to another record Monday on the Comex division of the New York Mercantile Exchange, gaining $46.70 to reach $1,898.90 an ounce.

Gold is on a significant run higher. It first jumped above the psychological barrier of $1,800 last Thursday. In two trading sessions -- Friday and Monday -- it settled $1.10 shy of the $1,900 mark.

Analyst are already anticipating a quick march to $2,000.

Stocks on Monday posted modest gains, the Dow Jones industrial average up 0.34 percent, the Standard & Poor's 500 up just 0.03 percent. The dollar index rose 0.22 percent to 74.15. The dollar was weaker in most of Asia, stronger across most of Europe.

The euro fell to $1.436 from Friday's $1.4395. Against the yen, the dollar was 76.80 yen from Friday's 76.55 yen.

The British pound was $1.6451 Monday from $1.6467 Friday. Against the Hong Kong dollar, the U.S. dollar was 7.7991 Hong Kong dollars from 7.7961 Hong Kong dollars. (c) UPI

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