Gold, Silver Climb as Dollar Falls

[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.

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This article was posted: Tuesday, June 2, 2009 at 6:55 pm

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