Including OIL TOO! CURRENCY COMING.
AN EARLY GOOD MORNING!!!Gold Rises in Asia as Record High Crude Oil Prices Fuel Inflation Gold rose in Asia as oil prices traded at a record high, bolstering the precious metal's appeal as a hedge against inflation.
Crude-oil and gasoline futures in Tokyo gained on concern supplies from Iran, the world's fourth-biggest oil producer, may be disrupted by a confrontation over the country's nuclear program.
Oil has gained 11 percent in New York this year, boosted by the Iranian standoff and by insurgent attacks in Nigeria, Africa's biggest oil producer.
``With crude oil prices this strong, gold is closing at good prices,'' Hiroyuki Kikukawa, deputy general manager of research at brokerage Nihon Unicom Corp., said by telephone today. He rates gold next week as a ``buy.'' Well of course he does, Many gold dealers call it a buy whether it is $300/ oz or $850/ oz they profit either way.
Gold for immediate delivery rose as much as $2.13, or 0.4 percent, to $598.60 an ounce. It traded at $598.29 as of 1:48 p.m. in Tokyo. Gold for delivery in June fell 0.2 percent to $600.10 an ounce on the Comex division of the New York Mercantile Exchange at yesterday's close.
Oil for September delivery rose as much as 620 yen, or 1.3 percent, to 49,040 yen a kiloliter ($65.73 a barrel) on the Tokyo Commodity Exchange, Asia's biggest energy futures market. The contract rose 0.5 percent to 48,650 yen a kiloliter at 1:50 p.m. local time.
Gold futures for February 2007 delivery in Tokyo rose as much as 22 yen, or 1 percent, to 2,315 a gram. The contract traded 0.8 percent up at 2,311 yen a gram, or $606 an ounce, as of 1:51 p.m. local time.
Author-GR
posted by Gold Futures @ 12:37 AM
0 Comments:
Post a Comment
<< Home