Gold & Silver Trading Higher on Rising Crude Oil Prices

September 9, 2008 · Posted in Gold & Silver Trading Higher On Rising Crude Oil Prices · Comment 

NEW YORK - Gold Prices rose to two-week highs in up-and-down trading Tuesday as a spike in crude oil spurred investor demand for hard assets as inflation hedges.

Gold for December delivery fell $2.40 to end at $828.10 per ounce on the N.Y. Mercantile Exchange, after rising to $853.60 earlier in the day, which was its highest level in almost one month.

December silver rose 20 cents to end at $13.678 an ounce on the Nymex, while December copper lowered to $3.4165 a pound.

Light crude oil for October delivery rose $1.16 to finish at $116.27 per barrel on the Nymex.

Heating oil futures also rose 5.85 cents to end the day at $3.2099 a gallon, while gas prices gained 8.74 cents to finish at $2.9697 a gallon.

In agricultural futures, many major grain products fell on the stronger U.S. dollar.

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