Precious metal prices rose at USA on Thursday, 25 June, 2009. Prices rose today as the dollar shed much of its earlier gains. Dollar gave up gains today after the initial jobless claims data in US checked in worse than expected. 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 Thursday, gold for August delivery ended at $939.5, higher by $5.1 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 0.5%. Year to date, gold prices are higher by 8%.
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 (10%) since then.
On Thursday, Comex silver futures for July delivery rose 9.5 cents (0.7%) at $14.005 an ounce. Last week, silver ended lower by 4.5%.
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 28.6% this year. For 2008, silver had lost 24%.
The Labor Department reported on Thursday, 25 June, 2009 that first-time filings for state unemployment benefits rose unexpectedly in the week ended 20 June, 2009.
For the week ended 20 June, initial claims rose 15,000 to 627,000. This is the highest level since the week ended 16 May, 2009. The latest four-week moving average for initial claims fell 500 to stand at 617,250.
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 higher by Rs 66 (0.45%) at Rs 14,679 per 10 grams.
Prices rose to a high of Rs 14,705 per 10 grams and fell to a low of Rs 14,617 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 121 (0.54%) higher at Rs 22,491/Kg. Prices opened at Rs 22,372/kg and rose to a high of Rs 22,575/Kg during the day's trading.
On Thursday, gold for August delivery ended at $939.5, higher by $5.1 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 0.5%. Year to date, gold prices are higher by 8%.
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 (10%) since then.
On Thursday, Comex silver futures for July delivery rose 9.5 cents (0.7%) at $14.005 an ounce. Last week, silver ended lower by 4.5%.
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 28.6% this year. For 2008, silver had lost 24%.
The Labor Department reported on Thursday, 25 June, 2009 that first-time filings for state unemployment benefits rose unexpectedly in the week ended 20 June, 2009.
For the week ended 20 June, initial claims rose 15,000 to 627,000. This is the highest level since the week ended 16 May, 2009. The latest four-week moving average for initial claims fell 500 to stand at 617,250.
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 higher by Rs 66 (0.45%) at Rs 14,679 per 10 grams.
Prices rose to a high of Rs 14,705 per 10 grams and fell to a low of Rs 14,617 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 121 (0.54%) higher at Rs 22,491/Kg. Prices opened at Rs 22,372/kg and rose to a high of Rs 22,575/Kg during the day's trading.
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