Bullion and Business News

Crude oil rose as a falling dollar bolstered investor demand for commodities and Tropical Storm Ida entered the Gulf of Mexico, forcing BP Plc and Chevron Corp. to cut output. Oil climbed more than $2 after the greenback fell against a basket of six major currencies following a decision by the Group of 20 governments to maintain economic stimulus measures. Workers were evacuated in the region, an area that accounts for 27 percent of U.S. crude production and 15 percent of natural gas output. “The G-20 didn’t comment about the dollar , which indicates that no action will be taken, and the greenback will ... 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

Precious metals retreated on the week as prices fell following a stronger US dollar. New York crude oil dropped the most in a month on Friday, yet still managed an October rise of 9 percent. US stocks also declined sharply Friday to mark their worst one-day slide since April. The Dow, S&P and Nasdaq registered respective weekly losses of 2.6 percent, 4.0 percent, and 5.1 percent. European stocks declined as well. In London bullion weekly figures , gold fell 2.0 percent, silver shot down 6.1 percent and platinum retreated 3.8 percent. Friday precious metals prices follow: London silver closed to $16.57 an ounce , ... Read Full Story

Precious metals enjoyed modest gains on the week as the US dollar was the predominating driver of where prices went. A weaker greenback on Friday combined with lower crude oil prices helped gold slide slightly from earlier week highs. Oil did jump nearly 3.5 percent this week while gasoline prices at the pump were almost 13 cents higher than last Saturday. In other markets, US stocks declined for the first week in three while European indexes finished mixed with the London FTSE advancing. In London bullion weekly figures , gold climbed 1.4 percent, silver rose 2.0 percent and platinum jumped 2.4 percent. Friday precious ... Read Full Story

Precious metals were mixed on the week, moving narrowly from last week’s soaring prices. For the week in London, gold and silver edged slightly lower while platinum inched higher. In New York futures, gold and platinum climbed several dollars while silver ended down nearly 30 cents. In other markets on Friday, New York oil futures gained for a seventh straight day and closed to a record one-year high. US stocks declined slightly, but enjoyed weekly gains as did European stocks. In London bullion weekly figures , gold slipped 0.4 percent, silver fell 1.8 percent and platinum advanced 0.2 percent. Friday precious metals prices follow: ... Read Full Story