Gold again tops $1,700

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Gold again tops $1,700

Posted on Sep 7, 2012 in Business | 0 comments


The signatures of the new Treasurer Anna Escobedo Cabral and Treasury Secretary John W. Snow appears on a replica one dollar bill after Cabral's signature was printed for the first time on U.S. money at the U.S. Bureau of Engraving and Printing in Washington on April 26, 2005. (UPI Photo/Roger L .Wollenberg)

Gold topped $1,700 a troy ounce Thursday on the Comex division of the New York Mercantile Exchange, gaining for the fourth consecutive trading session.

Gold rose along with equities as the European Central Bank”s bond buying program, announced in the morning, found favor among investors.

Gold added $9.70 to close at $1,703.70 a troy ounce while silver added 37 cents to $32.70.

The dollar index fell 0.16 percent to 81.11.

The Canadian dollar fell to 99.28 cents and the British pound rose to $1.5934 while the euro rose to $1.2634 and the dollar rose to 78.88 yen.

Copyright 2012 by United Press International