Daily Gold Update

Source: Dana Samuelson, American Gold Exchange

Austin, TX— Silver gained another $0.43 today in New York, while gold, platinum and palladium were range bound in thin trade. The London market was closed today due to a holiday. Many traders are now looking forward to any further U.S. economic stimulus information from Federal Reserve Chairman Ben Bernanke, who is scheduled to speak at a central bankers retreat in Jackson Hole, Wyo. this weekend. Chicago Federal Reserve Bank President Charles Evans said in a speech today in Hong Kong �Given the risks we face, I think it is vital that we make such moves today. I don�t think we should be in a mode where we are waiting to see what the next few data releases bring,� Contrarily, Sandra Pianalto, the president of the Cleveland Fed, who also spoke today in a speech in Newark, Ohio said that she supported Fed actions �that provide benefits with manageable risks� but �our experience with these programs is limited, and as a result, they justify more analysis.� Sandra Pianalto is a voting member of the Fed, while Charles Evans is not.

At the New York close, December gold closed at $1,675.60, up $2.70, or 0.2%. September silver added further gains from last week, closing the New York session at $31.05, up $0.43, or 1.4%. October platinum closed at $1,553.20, down $1.20 and September palladium finished the New York session at $654.75, up $2.60. All four precious metals are trading modestly lower in the electronic market following the close of the New York session.