SPDR Gold Trust: GLD And SLV Gain With The Dollar As Oil And Stocks Fall

The Price of GLD increased to $1,584.70 by midday yesterday before falling slightly. However, it closed with a gain of 0.79%. At the same time, the Price of SLV gained by 0.53% to close at $28.88. Overall, both gold and silver quotes rose by slightly over 2% by midday. 

However, a fall in prices in the afternoon led to a decrease in this gain to around 1.5%.
Oil prices remained lower with crude gasoline inventories rising to 4.1 million barrels, distillates fell to about 2.3 million barrels while gasoline stocks fell to 2.9 million barrels.

The current fluctuation in the Gold Quote and the Silver Quote is caused by the efficiency in precious metal mining as a result of using advanced technology. Fluctuation in currencies and the massive purchase of GLD and SLV by central banks throughout the world is likely to see these prices rise significantly. That's why many experts predict that these prices will hit $1,900 at the end of the year!

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Live 24 hours gold chart [Kitco Inc.]

 Live 24 hours silver chart [ Kitco Inc. ]