Gold closed higher on Friday and silver rebounded from a two-year low, but both precious metals were down for the week. In particular, Mr gold December delivery rose $13.30, or 0.8%, to $1,722.60 an ounce. Gold, which on Thursday closed at its lowest level since July 20, fell 1.6 percent for the week, according to […]
Tag: platinum
Gold and silver down: At 6-week lows and over two-year lows respectively
Precious metal prices fell again on Thursday, with gold falling to its lowest level in about six weeks and silver closing at its lowest level in more than two years as investors bet that interest rates will remain high for longer period of time. “Both gold and silver are suffering due to similar reasons: rising […]
Gold: Gains of 1.1% per week despite today’s losses
Gold closed the week with gains, despite today’s losses. Colin Cieszynski, chief market analyst at SIA Wealth Management, attributed the day’s drop in part to profit-taking ahead of the three-day no-trade, as markets will be closed on Monday due to the Martin Luther King Jr. holiday. However, the fall of the US dollar in the […]
Gold: ‘Breaking’ the uptrend with a drop of 0.5%
Gold closed lower on Thursday, recording its first drop in five sessions, following the rise in the US producer price index in December, which was lower than market expectations. In particular, according to data released by the US Department of Labor, producer prices on an annual basis increased by 9.7% compared to an increase of […]