Vollständige Version anzeigen : Gold stocks, futures head higher

26.02.2001, 16:18
Gold stocks, futures head higher

By Myra P. Saefong, CBS.MarketWatch.com
Last Update: 10:03 AM ET Feb 26, 2001

NEW YORK (CBS.MW) - Shares of metals companies and gold futures prices headed higher Monday as inventories of gold on the Commodities Exchange fell.

Analysts at GNI Research attributed the gains to "pure" and "simple" short-covering following a decline from a high this month above $270 an ounce.

Gold for April delivery rose $1.50 to trade at $263.60 on the Commodities Exchange division of the New York Mercantile Exchange. March silver climbed by 0.7 cent to $4.44 an ounce.

COMEX inventories of gold stood at 1,667,218 ounces late Friday, down by 22,135 ounces. Silver inventories were up 93,100 ounces to 99,686,481 ounces.

Meanwhile, the price of March palladium was unchanged at $855 an ounce and April platinum rose $4.50 to $603 an ounce.

March copper was up 0.2 cent to 79.80 cents a pound. Supplies of the industrial metal on the London Metals Exchange fell by 1,100 metric tons to stand at 332,250 short tons Monday.

Over in the equities market, the CBOE Gold Index (GOX: news, msgs, alerts) rose by 2.2 percent to 35.20 while the Philadelphia Gold and Silver Index (XAU: news, msgs, alerts) climbed 1.6 percent to stand at 51.50.

Individually, shares of Newmont Mining (NEM: news, msgs, alerts) climbed 37 cents to trade at $16.33 and shares of Agnico-Eagle Mines (AEM: news, msgs, alerts) added 16 cents to stand at $6.19.