Gold Ends Lower As Ceasefire Holds

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Author: Ivaylo Dagnev
123jump.com
Last Update: 5:55 AM EDT August 15 2006

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Gold futures ended near a three-week low on Monday, following a steep decline in crude prices as an Israeli-Hezbollah cease-fire came into effect and the British government downgraded its terror threat.With Iraq, though, still on the verge of civil war, and Iran and North Korea nuclear policies a cause for concern, geo-political tensions are still extremely highand might bring about a gold rally.

5:30AM Gold finishes lower on oil prices decline and downgraded terror threat.
Gold for December delivery finished down $5.10 at $639.30 an ounce on the NYME. September silver rose 27.5 cents to close at $12.16 an ounce. October platinum closed down $21.10 at $1,233.30 an ounce and September palladium retreated by $4.00 to $318.30 an ounce, moving in tandem with gold. September copper closed up 6.1 cents at $3.537 a pound.

September crude oil settled down 82 cents at $73.53 a barrel. September natural gas settled down 35.6 cents at $6.913 per million British thermal units.September Arabica coffee fell 3.55 cents to $1.0075 per pound. Futures on raw sugar in foreign ports for October settled 0.86 cent lower at 12.50 cents a pound.

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