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Commodities Briefing - Categorized | Metals and Minerals, Price Watch more

Precious metals prices rise on bargain buying

Posted on 10 November 2008

From Agweekly.com: Gold and other precious metals prices rose Monday as bargain-hunting investors trickled back into the beaten-down commodities market. Grain prices also rose, while energy futures fell. Precious metals and other commodities were hit hard in October by a strengthening U.S. dollar.

Investors tend to buy commodities as a hedge against inflation when the dollar is weak and sell those investments when the greenback rises.Gold for December delivery rose $8.60 to $726.80 an ounce on the New York Mercantile Exchange, after rising as high as $739.50 earlier in the session….. Full Article: Source


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