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Message: Re: INDUSTRY BULLETIN - Gold May Hit $950 As Central Banks and Miners Hold Back Sales. Grandich Pegs It Again

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Re: INDUSTRY BULLETIN - Gold May Hit $950 As Central Banks and Miners Hold Back Sales. Grandich Pegs It Again

posted on Sep 18, 08 08:00AM

The price of gold for December delivery rose on the New York Mercantile Exchange to $890 an ounce, a day after posting its biggest single-day rise ever.

The broader market climbed as well, with the S&P 500 stock index gaining 1.6 percent to 1,174.53 and the Nasdaq composite index rose 33.36, or 1.59 percent, to 2,132.21.

The U.S. dollar, meanwhile, fell.

In morning trading, Barrick Gold jumped 95 cents, or 2.9 percent, to $33.46, Newmont Mining slid 23 cents to $43.02 and Goldcorp added 74 cents, or 2.4 percent, to $31.33.

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