Precious metal prices ended mixed at USA on Tuesday, 07 July, 2009. Gold ended higher while silver ended lower after a full day of volatile trading. The dollar remained strong trying to erase some shine from precious metals by decreasing their appeal as a hedge against inflation. But gold managed to end higher today. 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, gold for August delivery ended at $929.1, higher by $4.8 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.1%. Year to date, gold prices are higher by 5.1%.
For the month of June, 2009, gold ended down by 5.4%. Gold had ended the month of May higher by 9.8%.
It was the highest monthly gain registered by gold in six months. For the second quarter, gold ended higher by 0.5%. The metal had 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 (11%) since then.
On Tuesday, Comex silver futures for September delivery lost 1.8 cents (0.1%) at $13.22 an ounce.
Silver ended 13% down for the month of June, 2009. For the month of May, silver gained 26.6%. It was the biggest monthly gain for silver in more than two decades.
For second quarter, silver rose 4.5%. Year to date, silver has climbed 17.2% this year. For 2008, silver had lost 24%.
In the currency market on Tuesday, the dollar index, a six-currency measure of the greenback's value stayed steady. Dollar rose against the euro.
The index rose on speculation that leaders from the Group of Eight nations will make efforts later this week to shore up the greenback.
Crude prices traded lower once again today due to the strong dollar. Crude oil prices traded lower by 2% around $62/barrel. 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 85 (0.6%) at Rs 14,604 per 10 grams.
Prices rose to a high of Rs 14,620 per 10 grams and fell to a low of Rs 14,495 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 3 (0.01%) lower at Rs 21,817/Kg. Prices opened at Rs 21,850/kg and fell to a low of Rs 21,700/Kg during the day's trading.
On Tuesday, gold for August delivery ended at $929.1, higher by $4.8 (0.5%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.1%. Year to date, gold prices are higher by 5.1%.
For the month of June, 2009, gold ended down by 5.4%. Gold had ended the month of May higher by 9.8%.
It was the highest monthly gain registered by gold in six months. For the second quarter, gold ended higher by 0.5%. The metal had 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 (11%) since then.
On Tuesday, Comex silver futures for September delivery lost 1.8 cents (0.1%) at $13.22 an ounce.
Silver ended 13% down for the month of June, 2009. For the month of May, silver gained 26.6%. It was the biggest monthly gain for silver in more than two decades.
For second quarter, silver rose 4.5%. Year to date, silver has climbed 17.2% this year. For 2008, silver had lost 24%.
In the currency market on Tuesday, the dollar index, a six-currency measure of the greenback's value stayed steady. Dollar rose against the euro.
The index rose on speculation that leaders from the Group of Eight nations will make efforts later this week to shore up the greenback.
Crude prices traded lower once again today due to the strong dollar. Crude oil prices traded lower by 2% around $62/barrel. 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 85 (0.6%) at Rs 14,604 per 10 grams.
Prices rose to a high of Rs 14,620 per 10 grams and fell to a low of Rs 14,495 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 3 (0.01%) lower at Rs 21,817/Kg. Prices opened at Rs 21,850/kg and fell to a low of Rs 21,700/Kg during the day's trading.
No comments:
Post a Comment