Gold gained on Friday but recorded another weekly decline as a stronger US dollar, which hit a three-month high this week, pulled prices down. Bullion generally moves opposite of the greenback. Silver and platinum managed modest gains in New York, but retreated in London.
The dollar’s strength was also cited as a catalyst in curbing investor appeal toward riskier assets, as in stocks. Major US and European indexes were mixed on the last full trading week in 2009.
In London bullion weekly... Read Full Story
New York gold futures put up their biggest numbers in two weeks on Wednesday, as the US dollar retreated prior to the Fed’s announcement that it would keep interest rates unchanged. Other precious metals followed with silver rising 1.4 percent and platinum inching 0.4 percent higher.
Crude oil rallied nearly 3 percent and briefly reached over $73 a barrel. US Stocks ended mixed.
New York precious metal figures follow:
Gold for February delivery climbed $13.20, or 1.2 percent, to... Read Full Story
US inflation over the past year returned to positive territory for the first time since February and Americans paid more for energy in November, bringing the cost of living up from the prior month, according to a government report released on Wednesday.
Consumer prices rose 0.4 percent in November — as most analysts expected — after a 0.3 percent increase in October, the Labor Department said.
Core inflation, which excludes volatile food and energy costs, was unchanged in November... Read Full Story
Precious metals retreated in the U.S. on Friday and ended lower around the world for the week as gold tracked opposite of the dollar’s movement and the other metals followed the yellow metal. Silver declined the most, with weekly losses of more than 7 percent. Gold was in the middle while platinum declined the least. Crude oil also plunged more than 7 percent. In stocks, major US indexes rose on Friday but ended mixed for the week. European indexes finished the week lower.
In London... Read Full Story
New York gold futures on Wednesday closed further south for a fourth consecutive trading day, as the yellow metal moved opposite to the US dollar, which faltered early but climbed late. Silver and platinum pulled back as well, while crude oil fell to a two-month low. US socks finished the day higher after tumbling on Tuesday.
New York precious metal figures follow:
Silver for March delivery plunged another 62.7 cents, or 3.5 percent, to $17.180 an ounce . It ranged from $17.910 to... Read Full Story
Commodities plunged on Friday as the US dollar firmed following a Labor Department report showing that employers cut fewer jobs last month. The unemployment rate fell to 10 percent from the prior 10.2 percent reading. Precious metals retreated in London earlier in the day, but the employment news brought New York gold, silver and platinum prices sharply lower.
While the government report helped crude prices early by raising hopes of an economic recovery, the greenback’s subsequent climb to... Read Full Story
Precious metals were hit hard Friday when the US dollar rose as worries of debt default in Dubai surfaced following news of their efforts to delay billions in loan repayments. Weekly prices in London were down for all metals, but gold and platinum futures in New York enjoyed gains.
US stocks tumbled on Friday as well. Their weekly performances were mixed with very narrow movement — the Dow lost 0.08 percent, the S&P rose 0.01 percent, and the Nasdaq fell 0.35 percent. European stocks were... Read Full Story
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sophia
3 hours ago
in USD , Metals , Employment
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Commodities plunged on Friday as the US dollar firmed following a Labor Department report showing that employers cut fewer jobs last month. The unemployment rate fell to 10 percent from the prior 10.2 percent reading. Precious metals retreated in London earlier in the day, but the employment news brought New York gold, silver and platinum prices...
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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... 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... Read Full Story
