Markets
GLD

Gold, Oil, Related ETFs Tracking Global Stocks Higher; Dollar Falls

Gold for December delivery is up $27.80 or 1.6% to $1,715.50 an ounce in electronic trading on Globex. It's trading just off a pre-market high of $1,720.

The rally in gold prices came as the dollar index, which tracks the performance of the greenback against a basket of other major currencies, dropped 1% to 78.819. The dollar is falling as investors march back into the euro amid signs of progress toward a debt resolution there.

European officials have agreed on how to leverage a key rescue fund, while Germany and France are looking at how to deepen fiscal integration in the euro zone, according to news reports.

Debt talks boost confidence in the global economy, which feeds demand for commodities.

Silver futures also climbed, with the December contract up $1.05, or 3.4%, to $32.06 an ounce.

January crude is up $2.97 or 3% at $99.74 a barrel in electronic trading.

United States Oil Fund ( USO ) is up 3.5% at 38.46.

SPDR Gold Trust ( GLD ) is up 1.9% at 166.50.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

GLD USO

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More