Price gains for gold, silver on some safe-haven demand gold silver
- Gold and silver prices are firmer in early U.S. trading Tuesday, on some mild safe-haven buying on news that a major dam and power station in Ukraine has been blown up and major flooding is occurring in the region. The largest nuclear power plant in Europe may now be in jeopardy. August gold was last up $6.50 at $1,980.70 and July silver was up $0.175 at $23.815.
Asian and European stock markets were mixed overnight. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins. U.S. equities bulls remain resilient as the major stock indexes trade at or near their highs for the year. Australia's central bank Tuesday raised its main interest rate by 0.25%, to 4.10%. The bank said more rate hikes may be needed to contain inflation.
U.S. economic data due for release Tuesday is light and includes the weekly Johnson Redbook retail sales report and the IDB/TIPP economic optimism index.
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