Precious metal prices fell at USA on Thursday, 02 July, 2009. Prices lost some luster today after the dollar strengthened today following a disappointing job market report from the Labor Department. 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 $931, lower by $10.3 (1.1%) an ounce on the New York Mercantile Exchange.
Yesterday, prices had gone up by almost 1.5%. For the week, gold ended lower by 1.1%. Year to date, gold prices are higher by 5.3%. Trading is closed on Friday in observance of the Independence Day holiday.
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 (10%) since then.
On Thursday, Comex silver futures for July delivery lost 35.2 cents (2.6%) at $13.408 an ounce. For the week, silver ended lower by 1.2%.
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 18.6% this year. For 2008, silver had lost 24%.
In the currency market on Thursday, the dollar index, a six-currency measure of the greenback's value, rose, rose by almost 1%. The dollar index dropped by 6.4% in the second quarter and is lower by 0.5% on a y-t-d basis.
The Labor Department reported on Thursday, 02 July, 2009 that the U.S. economy shed jobs at a faster pace in June than in May.
As per the report, nonfarm payrolls shrank by 467,000 in June, 2009, higher than the 325,000 decline expected and the 322,000 jobs lost in May.
The unemployment rate ticked higher to 9.5% in June from 9.4% in the previous month. There was only a very slight 8,000-downward revision to payroll losses in April and May. 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 65 (0.44%) at Rs 14,484 per 10 grams.
Prices rose to a high of Rs 14,542 per 10 grams and fell to a low of Rs 14,418 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 367 (1.7%) lower at Rs 21,624/Kg. Prices opened at Rs 21,990/kg and fell to a low of Rs 21,480/Kg during the day's trading.
On Thursday, gold for August delivery ended at $931, lower by $10.3 (1.1%) an ounce on the New York Mercantile Exchange.
Yesterday, prices had gone up by almost 1.5%. For the week, gold ended lower by 1.1%. Year to date, gold prices are higher by 5.3%. Trading is closed on Friday in observance of the Independence Day holiday.
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 (10%) since then.
On Thursday, Comex silver futures for July delivery lost 35.2 cents (2.6%) at $13.408 an ounce. For the week, silver ended lower by 1.2%.
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 18.6% this year. For 2008, silver had lost 24%.
In the currency market on Thursday, the dollar index, a six-currency measure of the greenback's value, rose, rose by almost 1%. The dollar index dropped by 6.4% in the second quarter and is lower by 0.5% on a y-t-d basis.
The Labor Department reported on Thursday, 02 July, 2009 that the U.S. economy shed jobs at a faster pace in June than in May.
As per the report, nonfarm payrolls shrank by 467,000 in June, 2009, higher than the 325,000 decline expected and the 322,000 jobs lost in May.
The unemployment rate ticked higher to 9.5% in June from 9.4% in the previous month. There was only a very slight 8,000-downward revision to payroll losses in April and May. 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 65 (0.44%) at Rs 14,484 per 10 grams.
Prices rose to a high of Rs 14,542 per 10 grams and fell to a low of Rs 14,418 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 367 (1.7%) lower at Rs 21,624/Kg. Prices opened at Rs 21,990/kg and fell to a low of Rs 21,480/Kg during the day's trading.
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