Precious metal prices fell on Friday, 10 July, 2009. Prices fell in synchronization with crude price and strong dollar. 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 Friday, gold for August delivery ended at $912.5, lower by $3.7 (0.4%) an ounce on the New York Mercantile Exchange. For the week, gold ended lower by 1.6%. Year to date, gold prices are higher by 3.4%.
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 (12%) since then.
On Friday, Comex silver futures for September delivery lost 29 cents (2.2%) at $12.645 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 12.8% this year. For 2008, silver had lost 24%.
Crude oil has lost about 10% this week as a new report from the International Energy Agency reaffirmed concerns about weak demand. The dollar was higher against most of its major rivals.
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 5 (0.03%) at Rs 14,500 per 10 grams.
Prices rose to a high of Rs 14,504 per 10 grams and fell to a low of Rs 14,487 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 7 (0.03%) higher at Rs 21,263/Kg. Prices opened at Rs 21,247/kg and rose to a high of Rs 21,279/Kg during the day's trading.
On Friday, gold for August delivery ended at $912.5, lower by $3.7 (0.4%) an ounce on the New York Mercantile Exchange. For the week, gold ended lower by 1.6%. Year to date, gold prices are higher by 3.4%.
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 (12%) since then.
On Friday, Comex silver futures for September delivery lost 29 cents (2.2%) at $12.645 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 12.8% this year. For 2008, silver had lost 24%.
Crude oil has lost about 10% this week as a new report from the International Energy Agency reaffirmed concerns about weak demand. The dollar was higher against most of its major rivals.
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 5 (0.03%) at Rs 14,500 per 10 grams.
Prices rose to a high of Rs 14,504 per 10 grams and fell to a low of Rs 14,487 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 7 (0.03%) higher at Rs 21,263/Kg. Prices opened at Rs 21,247/kg and rose to a high of Rs 21,279/Kg during the day's trading.
No comments:
Post a Comment