NEW YORK, Feb. 25 (UPI) -- Gold and silver on the New York Mercantile Exchange Monday as investors looked for a safer bet than equities, which tumbled.
There is talk of a correction possible on Wall Street -- defined as a 10 percent drop after a sustained winning streak. That could move investors quickly to gold.
Wall Street provided a nudge on Monday. After sharp drops on Wednesday and Thursday last week, equity indexes in New York were off more than 1.5 percent Monday.
Gold prices added $13.40 Monday to $1,592.60 per troy ounce, remaining down for the week.
Silver added 29 cents to $29.04 per ounce.
Against the dollar the euro fell to $1.3074 from Friday's $1.3217. Against the yen, the dollar was lower at 91.59 yen from 94.55 yen.
The British pound rose to $1.5175 from $1.5078. The dollar rose to 1.0265 Canadian dollars from 1.021 Canadian.
|Additional Business News Stories|
LONDON, June 19 (UPI) --An oil company working in northern Iraq said Wednesday it was looking to confirm the region may be one of the best in the world in terms of resource potential.
SAO JOSE DOS CAMPOS, Brazil, June 19 (UPI) --Brazilian aircraft maker Embraer hopes to continue building up its sales of private jets at the same time as it expands capacity in defense, security and tactical transport.