Gold futures surged higher on Tuesday amid U.S. dollar weakness and a broad-based rally on Wall Street. COMEX gold futures, per the February contract, settled with a gain of $33.70, or 2.2%, at $1,600.50 per ounce.
The February contract reached an intra-day high of $1,608.70 in late morning trading but pared its gains heading into the COMEX close at 1:30pm ET. However, the spot price of gold later climbed back toward $1,606 in electronic trading, putting it on pace for its best day since a 3.2% rise on October 25, 2011.
Silver futures posted even larger gains than gold, with the COMEX February contract finishing up $1.66, or 6.0%, at $29.57 per ounce. Other precious metals rallied as well, with platinum rising by 2.0% to $1,432.50 per ounce and palladium by 1.1% to $663.50 per ounce.
As for industrial commodities, copper advanced 2.7% to $3.53 per pound and crude oil futures jumped 4.3% to $102.96 per barrel – its highest closing level since May.
Aurizon Mines Advances Duvay Gold Project
- The current field operations at Duvay are centered around a mini-bulk sampling program and drilling
- The first two pit sample concentrates have been shipped to an independent laboratory for analysis by fire assay; processing of the third mini-bulk sample has commenced
- Results from the first 13 hole drill program included the intersection of 83.19 grams per tonne of gold over 1.0 meters.
