Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold inched down slightly but held above $1,310 as easing tensions in the Ukraine and Gaza boosted risk appetite and limited demand for safe havens.

Equity markets breathed a sigh of relief after Russia completed military exercises on Friday without incident and a 72-hour ceasefire in Gaza, declared today, brought some calm to that region. The Global Dow rallied more than 0.8% while the Dow added 0.1% and the S&P 500 0.3%.

U.S. Treasury bonds, another traditional safe-haven, eased slightly while the dollar edged up against most major rivals, pressuring gold, which is denominated in dollars for international trade and becomes more expensive to holders of other currencies.

The other precious metals were mixed, with silver adding 0.8% and palladium jumping 1.7% while platinum fell 0.4%.

At the Comex close: December gold dipped 50 cents to $1,310.50; September silver added 15 cents to $20.10; platinum slid $5.90 to $1,472.40; and September palladium jumped $15.15 to $860.50.