Bullion and Business News

Precious metals surged this week with gold, platinum and silver posting sizable percentage gains. Inflation concerns, economic worries and speculation of a declining US dollar were common reasons proffered for the yellow metal’s fortunes. Crude oil fell Friday and for a second straight day, but managed a small weekly increase. In stocks, major US indexes ended mixed Friday and for the week while European indexes checked the losing column for both. For London bullion weekly figures , gold rose 3.3 percent, silver surged 5.0 percent and platinum soared 5.6 percent. In New York bullion weekly figures , gold rose 2.7%, silver advanced 6.1% and ... Read Full Story

The cost of living in the US rose more than expected in October, as the price of fuel, food and cars helped drive costs higher, according to a Labor Department report released Wednesday. Consumer prices rose 0.3 percent in the month after a 0.2 percent increase in September, according to the latest Consumer Price Index (CPI) data. Many analysts were expecting a 0.2 percent increase, according to reports. Core inflation, which exclude volatile food and energy costs, rose by 0.2 percent.   "I don’t see anything in the report that suggests there’s any real inflation flare-up," Joseph LaVorgna, chief U.S. economist at Deutsche Bank ... Read Full Story

The cost of living in the US rose more than expected in October, as Americans paid more for fuel, food and new cars, the government reported Wednesday. Consumer prices rose 0.3% in October after a 0.2% increase in September, according to the latest Consumer Price Index (CPI) data released by the Labor Department . The increase is 0.1% higher than many economists had forecasted. The good news for consumers is that prices are down 0.2% from a year earlier. "I don’t see anything in the report that suggests there’s any real inflation flare-up," Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in ... Read Full Story

Precious metals were up and down through much of the week as the US dollar mostly set gold’s direction. While metal futures finished with higher weekly gains in New York, silver was the standout in London logging a 1.2% loss. Oil slipped to a one-month low Friday following weaker than expected US consumer confidence numbers. In stocks, European indexes ended mixed on Friday but higher on the week while US indexes were positive both ways, enjoying a second consecutive up week. In London bullion weekly figures , gold rose 0.7 percent, silver fell 1.2 percent and platinum advanced 0.9 percent. Friday precious metals prices ... Read Full Story

Precious metals rallied this week following a weaker US dollar that was pushed lower by a series of economic reports, including the Labor Department’s higher than expected unemployment figures of 10.2 percent — a more than 26-year high. Gold reached an all-time high and silver soared. Crude oil tumbled on Friday by nearly 3 percent but still managed to post a small weekly gain. In stocks for the week, European indexes were higher and the three major US indexes advanced more than 3 percent. In London bullion weekly figures , gold jumped 5.5 percent, silver surged 5.8 percent and platinum rose 2.0 percent. Friday ... Read Full Story