Monday, November 28, 2011

Gold,silver end lower again for the week

US gold futures took up some pressure in reaction to rising dollar as gold for December delivery slipped 0.6 percent or $10.20 to settle at $1,685.70 per ounce.

NEW YORK: Gold closed lower again this week here as comex gold futures exchange closed earlier than usual Friday, having been shut for Thanksgiving Thursday, as US shoppers hit the stores in search of Black Friday discounts.
US gold futures took up some pressure in reaction to rising dollar as gold for December delivery slipped 0.6 percent or $10.20 to settle at $1,685.70 per ounce.
The respective contract was down 2.3 percent for the week. Silver futures for December delivery fell 2.7 percent or $0.87 to $31.01 per ounce with decline of 4.3 percent for the week.
Copper for the same month delivery fell 0.3 percent or $0.01 to $3.27 per pound resulting in weekly losses of 3.8 percent.
Platinum futures contract for January delivery declined 1.6 percent or $25.50 to $1.533.10 per ounce while for the week the respective contract fell 3.5 percent.
Palladium for December delivery plunged 3.4 percent or $19.75 on Friday to $570.10 per ounce while its fell 5.8 percent for the week.

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