Search Now

Recommendations

Monday, August 23, 2010

Bullion metals turn pale


Strong dollar hammers prices

Bullion metal prices ended lower on Friday, 20 August 2010 at Comex. Dec gold futures shed 0.5% to finish at $1228.80 per ounce, while Sept silver dropped 2% to end at $17.99 per ounce. Strength in the dollar index weighed on both precious metals.

Gold gained 1% for the week while silver shed 0.6%.

In the currency market on Friday, the dollar index, which weighs the strength of the dollar against a basket of six other currencies rose by 0.8%.