Precious metal prices rose at USA on Friday, 26 June, 2009. Prices rose on Friday as the dollar index slipped for the second straight day. Dollar dropped on Friday as traders mulled over all time low interest rates in the US. Generally, a stronger dollar pressures demand for dollar-denominated commodities, such as crude oil and gold, which become more expensive for holders of other currencies and also vice versa.
On Friday, gold for August delivery ended at $941, higher by $1.5 (0.2%) an ounce on the New York Mercantile Exchange.
Earlier during the day, it hit a high of $949. For the week, gold ended higher by 1%. This was the first weekly gain for the yellow metal in four weeks. Year to date, gold prices are higher by 8.2%.
For the month of June, 2009, gold is still down by 4% on a m-t-d basis. Gold had ended the month of May higher by 9.8%.
It was the highest monthly gain registered by gold in six months. Before this, gold had suffered losses in prior two months.
For the month of April and March, 2009, gold had lost 3.7% and 2.1% respectively. But the metal gained 4.3% in the first quarter of this year.
On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped somewhat (8.9%) since then.
On Friday, Comex silver futures for July delivery rose 12.3 cents (0.9%) at $14.128 an ounce. For the week, silver ended lower by 0.5%.
For the month of May, silver gained 26.6%. It was the biggest monthly gain for silver in more than two decades. Year to date, silver has climbed 29.5% this year. For 2008, silver had lost 24%.
In the currency market on Friday, the dollar was under renewed pressure after China's central bank reiterated a call to lessen the currency's role as the world's reserve currency.
The dollar also slipped on speculation about global central banks' efforts to stabilize the economy that will boost demand for higher-yielding assets.
The dollar index, which measures the strength of the dollar against a basket of six other currencies, fell almost 0.6%. In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
At the MCX, gold prices for August delivery closed lower by Rs 28 (0.2%) at Rs 14,651 per 10 grams.
Prices rose to a high of Rs 14,783 per 10 grams and fell to a low of Rs 14,612 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 79 (0.35%) higher at Rs 22,570/Kg. Prices opened at Rs 22,514/kg and rose to a high of Rs 22,793/Kg during the day's trading.
On Friday, gold for August delivery ended at $941, higher by $1.5 (0.2%) an ounce on the New York Mercantile Exchange.
Earlier during the day, it hit a high of $949. For the week, gold ended higher by 1%. This was the first weekly gain for the yellow metal in four weeks. Year to date, gold prices are higher by 8.2%.
For the month of June, 2009, gold is still down by 4% on a m-t-d basis. Gold had ended the month of May higher by 9.8%.
It was the highest monthly gain registered by gold in six months. Before this, gold had suffered losses in prior two months.
For the month of April and March, 2009, gold had lost 3.7% and 2.1% respectively. But the metal gained 4.3% in the first quarter of this year.
On 17 March, 2008 prices had skyrocketed to a high of $1,034/ounce. But prices have dropped somewhat (8.9%) since then.
On Friday, Comex silver futures for July delivery rose 12.3 cents (0.9%) at $14.128 an ounce. For the week, silver ended lower by 0.5%.
For the month of May, silver gained 26.6%. It was the biggest monthly gain for silver in more than two decades. Year to date, silver has climbed 29.5% this year. For 2008, silver had lost 24%.
In the currency market on Friday, the dollar was under renewed pressure after China's central bank reiterated a call to lessen the currency's role as the world's reserve currency.
The dollar also slipped on speculation about global central banks' efforts to stabilize the economy that will boost demand for higher-yielding assets.
The dollar index, which measures the strength of the dollar against a basket of six other currencies, fell almost 0.6%. In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
At the MCX, gold prices for August delivery closed lower by Rs 28 (0.2%) at Rs 14,651 per 10 grams.
Prices rose to a high of Rs 14,783 per 10 grams and fell to a low of Rs 14,612 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 79 (0.35%) higher at Rs 22,570/Kg. Prices opened at Rs 22,514/kg and rose to a high of Rs 22,793/Kg during the day's trading.
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