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Thursday, December 02, 2010

Gold and Silver trade

-Gold and silver were up in Asia Thursday after what was a mostly a quiet session, while palladium broke to a new 9-year high.
Traders said the gold market was relatively quiet but prices ratcheted higher as there were few willing sellers ahead of the European Central Bank meeting.
The ECB meeting results, due at 1245 GMT, could include a signal that the bank is willing to extend its bond-buying program, a move which would be greeted with glee by gold bulls, some of whom suspect the ECB will eventually be forced into quantitative easing.
At 0725 GMT, spot gold was at $1,393.10 a troy ounce, up $6.50 from Wednesday's New York close, with Tocom October 2010 gold up Y25 at Y3,773 a gram.
Spot silver was at $28.61/oz, up 19 cents, while spot platinum was up $16 at $1,701/oz.

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