Daily Gold Update

Source:Dana Samuelson, American Gold Exchange

Austin— Precious metals prices were stable today with all four metals trading in tight trading ranges. Gold gained 0.1% to close the New York session at $1,223.30. Silver and platinum also had small gains while palladium was the only decliner, falling $2.20 to $832.20.

Private sector job hiring cooled a bit in June with ADP reporting today that 153,000 new jobs were added to private payrolls last month. ADP also revised downward by 23,000 their initial May new jobs figure from 253K to 230K. The report, released at 8:15 AM eastern time, was a non-event for precious metals, with gold moving within a tight $4 range immediately following the news. Gold, silver, platinum and palladium all remained in a very tight trading ranges for the rest of the New York Session in low, post 4th of July holiday trading volume.

The U.S. dollar index, which measures the buck against a basket of foreign currencies, declined 0.4% to 95.80, pushing the dollar back down toward its recent low on the index of 95.37. The weaker than expected ADP report weighed on the dollar.

At the Comex close: August gold gained $1.60 to $1,223.30; September silver gained 8 cents $15.98; October platinum picked up $1.50, to $910.30; and September palladium dropped $2.20 to $832.20 an ounce.