Bullion metals rose for the first time in three sessions on Tuesday, 09 June, 2009. Prices rose today after quite some time as the dollar lost some of its sheen. 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 Tuesday, Comex Gold for June delivery rose $2.2 (0.2%) to close at $954.7 an ounce on the New York Mercantile Exchange.
Earlier during the day, it rose to a high of $964.5. Last week, gold ended lower by 1.8%. Year to date, gold prices are higher by 10%.
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%) since then.
On Tuesday, Comex silver futures for July delivery rose 18.5 cents (1.2%) at $15.14 an ounce. Last week, silver ended lower by 1.4%. 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 35.4% this year. For 2008, silver had lost 24%.
In the currency market on Tuesday, the dollar paused from its steep increase over the past few trading sessions, as investors gauged the long-term staying power of the greenback's recent resurgence.
The dollar index, which weighs the strength of dollar against the basket of six other currencies, went down by almost 0.9%.
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 6 (0.04%) at Rs 14,607 per 10 grams. Prices rose to a high of Rs 14,700 per 10 grams and fell to a low of Rs 14,572 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 196 (0.83%) higher at Rs 23,557/Kg. Prices opened at Rs 23,293/kg and roe to a high of Rs 23,768/Kg during the day's trading.
On Tuesday, Comex Gold for June delivery rose $2.2 (0.2%) to close at $954.7 an ounce on the New York Mercantile Exchange.
Earlier during the day, it rose to a high of $964.5. Last week, gold ended lower by 1.8%. Year to date, gold prices are higher by 10%.
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%) since then.
On Tuesday, Comex silver futures for July delivery rose 18.5 cents (1.2%) at $15.14 an ounce. Last week, silver ended lower by 1.4%. 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 35.4% this year. For 2008, silver had lost 24%.
In the currency market on Tuesday, the dollar paused from its steep increase over the past few trading sessions, as investors gauged the long-term staying power of the greenback's recent resurgence.
The dollar index, which weighs the strength of dollar against the basket of six other currencies, went down by almost 0.9%.
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 6 (0.04%) at Rs 14,607 per 10 grams. Prices rose to a high of Rs 14,700 per 10 grams and fell to a low of Rs 14,572 per 10 grams during the day's trading.
At the MCX, silver prices for July delivery closed Rs 196 (0.83%) higher at Rs 23,557/Kg. Prices opened at Rs 23,293/kg and roe to a high of Rs 23,768/Kg during the day's trading.
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