Gold, Silver Futures Rise, Greece Remains in Focus

(Source:GoldAlert.Com) Gold and silver futures extended their gains Tuesday afternoon amid ongoing sovereign debt concerns in Greece.COMEX gold futures for June delivery settled higher by $13.70, or 0.9%, at $1,516.90 per ounce, and later reached $1,520 following the COMEX close.Silver futures, per the July contract, finished the COMEX session with a gain of $1.37, or 3.7%, at $38.49 per ounce. Gold’s sister precious metal hit an intra-day high of $38.82 this afternoon.The rally in gold and silver was not accompanied by weakness in the U.S. dollar, which held near unchanged against the euro currency. The euro was unable to recover any of its sell-off over the previous several days, as speculation intensified that Greece will need some form of an additional bailout to help meet its mounting debt obligations.
Source link:http://www.goldalert.com/2011/05/gold-silver-futures-rise-greece-remains-in-focus/