Daily Gold Update

Source:Dana Samuelson, American Gold Exchange

AustinGold and silver continue to bounce within recent trading ranges of $2,600 to $2,700 for gold and $30.50 and $32.50 for silver. Today both metals caught a modest bid as tension in the Middle East edged higher.

The Washington Post reported yesterday that the Israeli government told the US they would not target Iranian nuclear or oil production sites in any potential retaliatory strike they make against Iran. Today, however, Israeli Prime Minister Benjamin Netanyahu said while Israel would take US concerns into consideration, Israel would do whatever was in its own best interests. Meanwhile fighting on the Lebanese border between Israel and Hezbollah continued to percolate.

Both the US dollar and the US 10-year T-bill Yield were slightly lower from yesterday. The dollar was down 0.04% on the US dollar index to 103.25 while the yield on the 10-year T-bill edged lower from 4.10% yesterday to 4.037%.

At the New York spot close: gold gained $17.24 to $2,665.04; silver rose 35 cents to $31.59; platinum fell $7.20 to $987.70; and palladium fell $20.00 to $1011.90 an ounce.