Precious metals end mixed

Gold manages a positive end but silver slips

Yellow metal prices ended higher on Friday, 20 November, 2009. Prices rose as the dollar became strong but still pared some of its earlier gains. Silver ended little lower.

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 December delivery ended at $1,146.8, higher by $4.9 (0.4%) an ounce on the New York Mercantile Exchange. Year to date, gold prices are higher by almost 31%.

On Friday, December Comex silver futures ended slightly lower by 1 cent at $18.455 an ounce.

In the currency market on Friday, the dollar headed up against most of the major currencies. The dollar index, which measures the strength of dollar against basket of six other currencies, rose by almost 0.6% before settling with a 0.4% gain.

In 2008, gold prices ended higher by 5.5%. The dollar index had gained 12% that year.