Precious metal prices rose on Monday, 13 July, 2009. Prices rose as the dollar pared earlier gains. Prices rose in spite of crude prices slipping further lower. 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 Monday, gold for August delivery ended at $922.5, higher by $10 (1.1%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.6%. Year to date, gold prices are higher by 4.5%.
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 Monday, Comex silver futures for September delivery rose 14 cents (1.1%) at $12.785 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 13.9% this year. For 2008, silver had lost 24%.
In the currency market on Monday, the dollar fell against the euro, with the European currency trading up 0.3%.
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 96 (0.66%) at Rs 14,596 per 10 grams.
Prices rose to a high of Rs 14,625 per 10 grams and fell to a low of Rs 14,505 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 135 (0.63%) higher at Rs 21,398/Kg. Prices opened at Rs 21,299/kg and rose to a high of Rs 21,446/Kg during the day's trading.
On Monday, gold for August delivery ended at $922.5, higher by $10 (1.1%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.6%. Year to date, gold prices are higher by 4.5%.
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 Monday, Comex silver futures for September delivery rose 14 cents (1.1%) at $12.785 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 13.9% this year. For 2008, silver had lost 24%.
In the currency market on Monday, the dollar fell against the euro, with the European currency trading up 0.3%.
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 96 (0.66%) at Rs 14,596 per 10 grams.
Prices rose to a high of Rs 14,625 per 10 grams and fell to a low of Rs 14,505 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 135 (0.63%) higher at Rs 21,398/Kg. Prices opened at Rs 21,299/kg and rose to a high of Rs 21,446/Kg during the day's trading.
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