Gold prices up; silver still running on rocket fuel

1 September
Kitco News:

“Gold prices are modestly higher in early U.S. trading Thursday, but silver continues to power ahead with sharp gains to hit another more-than-two-year high overnight. Safe-haven demand and technical buying continue to be featured in both metals. December gold futures were last up $4.60 an ounce at 1,553.70. December Comex silver prices were last up $0.279 at $18.74 an ounce.

A slightly weaker than expected U.S. gross domestic product report also landed in the camp of the precious metals market bulls. The second estimate of second-quarter GDP was up 2.0%, year-on-year, versus up 2.1% in the initial reading. However, the 2.0% print was right in line with market expectations.

Asian and European stock markets were mixed to higher overnight. U.S. stock indexes are pointed toward solidly higher openings when the New York day session begins.”

 

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