Gold prices ended the U.S. day session with sharp gains Wednesday on short covering, bargain hunting and position evening ahead of two days of major economic data points just ahead. In early trading Wednesday gold and silver prices hit fresh five-month lows in the immediate aftermath of a monthly U.S. ADP jobs figure that was stronger than expected. However, bargain hunters quickly stepped in to buy the dip in prices after the ADP report and the gold market quickly pushed back above unchanged. The ADP report continued a recent trend of U.S. economic data that is upbeat. February gold was last up $23.60 at $1,244.30 an ounce. Spot gold was last quoted up $1.50 at $1226.25. March Comex silver last traded up $0.725 at $19.79 an ounce.
Posted on: Wed, 04 Dec 2013 20:31:03 +0000
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