Gold News

Gold Prices End Week with a Tumble

From Chris Mullen at

Gold Prices fell to as low as $1478.05 by midmorning in New York last Friday, before rallying in the last few hours of trade, but they still ended with a loss of 1.28%.  

Silver Prices slumped to as low as $33.441 before they too  bounced back higher, but still ended with a loss of 2.71%.

Euro Gold Prices fell to about €1022. 

Gold and silver equities fell about 2% in the first half hour of trade and remained near that level for the rest of the day.

Platinum lost $8 to $1710, and copper climbed a couple of cents to about $4.29.

Oil fell on weak economic data out of China and the US that reduced demand expectations.

The US Dollar waffled near unchanged while US Treasuries fell on more optimism about Greece that sent the Dow, Nasdaq, and S&P over 1% higher again.

Among the big names making news in the market Friday were GM, WaMu, Providence, Ebix, Apple, and RIM.

This week's economic highlights include Factory Orders on Tuesday, ISM Services on Wednesday, ADP Employment and Initial Jobless Claims on Thursday, and June’s jobs data, Wholesale Inventories, and Consumer Credit on Friday.

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Chris Mullen is chief content manager of the GoldSeek family of websites, a leading source of gold news, comment and mining-stock data for private and institutional investors.

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