June 2, 2009
[efoods]Gold and silver futures bounced from overnight weakness Tuesday in response to a softer U.S. dollar, although the metals also ran into bouts of profit-taking.
August gold rose $4.40 to $984.40 an ounce on the Comex division of the New York Mercantile Exchange. July silver rose 22 cents to $15.955 and peaked at $16.02, its strongest level since August.
“Overnight, you had some profit-taking across the board in commodities,” said Bob Haberkorn, Lind-Waldock senior market strategist. “People were anticipating dollar strength on [Treasury Secretary Timothy] Geithner’s comments in China.