Gold Higher on Safe Haven Buying after Poor Jobs Number

August 12, 2010

Gold

Gold has risen (over $1,214/oz) on safe haven buying after the poor jobs number underlined growing concerns about the health of the US and global recovery. Concerns about sovereign debt markets in Europe have seen the euro come under pressure again.

Economic uncertainty has not been helped by Fitch warning that the US AAA credit rating may come under pressure in the coming years.

Gold is currently trading at $1,213.70/oz, €944.92/oz and £777.76/oz.

Silver

Silver is currently trading at $17.98/oz, €14.00/oz and £11.52/oz.

Platinum Group Metals

Platinum is trading at $1,520.00/oz, palladium is at $469/oz and rhodium is at $2,100/oz.

Mark OByrne

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