Precious metal prices rose from their two month lows on Thursday, 09 July, 2009. Prices rose in synchronization with as crude price which ended its six day losing streak. Prices also rose due to the weak 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 Thursday, gold for August delivery ended at $916.2, higher by $6.9 (0.8%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.1%. Year to date, gold prices are higher by 3.8%.
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 Thursday, Comex silver futures for September delivery gained 8.3 cents (0.6%) at $12.935 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 15% 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 fell. The euro gained more than 1% against the dollar. Crude prices ended marginally higher today breaking their six day of continuous losing streak.
Crude oil prices settled around $61 today. Crude had given up almost $13 in the past six sessions. 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 15 (0.1%) at Rs 14,481 per 10 grams.
Prices rose to a high of Rs 14,525 per 10 grams and fell to a low of Rs 14,430 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 72 (0.33%) lower at Rs 21,501/Kg. Prices opened at Rs 21,589/kg and fell to a low of Rs 21,341/Kg during the day's trading.
On Thursday, gold for August delivery ended at $916.2, higher by $6.9 (0.8%) an ounce on the New York Mercantile Exchange. Last week, gold ended lower by 1.1%. Year to date, gold prices are higher by 3.8%.
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 Thursday, Comex silver futures for September delivery gained 8.3 cents (0.6%) at $12.935 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 15% 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 fell. The euro gained more than 1% against the dollar. Crude prices ended marginally higher today breaking their six day of continuous losing streak.
Crude oil prices settled around $61 today. Crude had given up almost $13 in the past six sessions. 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 15 (0.1%) at Rs 14,481 per 10 grams.
Prices rose to a high of Rs 14,525 per 10 grams and fell to a low of Rs 14,430 per 10 grams during the day's trading.
At the MCX, silver prices for September delivery closed Rs 72 (0.33%) lower at Rs 21,501/Kg. Prices opened at Rs 21,589/kg and fell to a low of Rs 21,341/Kg during the day's trading.
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