Reply #21: Gold hits $600 an ounce [View All]

[UpInArms]

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7BD7721A27%2DEC61%2D401F%2D8F0B%2D6AAA1B7F3493%7D&dist=newsfinder&symbol=&siteid=mktw

NEW YORK (MarketWatch) -- Gold futures powered higher early Thursday, setting a fresh 25-year high at $600 an ounce, pulling other metals to multiyear levels and helping copper to a new all-time high.

"Gold is exploding and silver isn't far behind," said Kevin Kerr, trader and editor of Global Resources Trader, a newsletter published by MarketWatch, the publisher of this report.

Gold for June delivery rose to $600 an ounce in official trade on the New York Mercantile Exchange, having earlier hit a high of $601.90 in electronic trade.
Silver traded at a new 22-year high of $12.01 an ounce, after peaking at $12.08 in electronic trade.

The metal has rallied sharply in recent weeks as excitement has built about the pending launch of a silver exchange-traded fund, that's expected to boost physical demand for the metal.

Copper was last up 2.20 cents to $2.618 a pound, after trading at a new record of $2.621 in official trade and $2.64 a pound in electronic trade.

Platinum rose $17.40 to $1,098 an ounce and palladium was up $13.35 at $356 an ounce.

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