Precious metal prices ended mixed on Friday, 24 July, 2009. Gold prices ended lower for the day while silver rose. The dollar remained relatively steady against its counterparts. 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 $953.1, lower by $1.7 (0.2%) an ounce on the New York Mercantile Exchange. For the week, gold ended higher by 1.6%. Year to date, gold prices are higher by 7.4%.
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 (10%) since then.
On Friday, Comex silver futures for September delivery rose 11 cents (0.8%) at $13.88 an ounce. For the week, silver ended higher by 3.5%.
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 22.6% this year. For 2008, silver had lost 24%.
In the currency market on Friday, the dollar index, a six-currency gauge of the greenback's value, rose mildly higher.
In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
On Friday, gold for August delivery ended at $953.1, lower by $1.7 (0.2%) an ounce on the New York Mercantile Exchange. For the week, gold ended higher by 1.6%. Year to date, gold prices are higher by 7.4%.
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 (10%) since then.
On Friday, Comex silver futures for September delivery rose 11 cents (0.8%) at $13.88 an ounce. For the week, silver ended higher by 3.5%.
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 22.6% this year. For 2008, silver had lost 24%.
In the currency market on Friday, the dollar index, a six-currency gauge of the greenback's value, rose mildly higher.
In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.
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