Mixed finish for bullions

Gold gains but silver drops Gold futures at Comex edged higher on Friday, 20 April 2012 underpinned by a weaker dollar. For the most part prices traded in narrow range lacking catalysts. Gold for June delivery advanced $1.40, or 0.1%, to settle at $1,642.80 an ounce on the Comex division of the New York Mercantile Exchange on Friday. On the week, gold lost 1%. May silver slipped 13 cents, or 0.4%, to end at $31.65 an ounce on Friday. On the week, however, silver gained 0.8%. On Friday, the dollar pushed lower against major rivals as European stocks moved higher after Germany's Ifo Institute said its business-confidence gauge edged up to 109.9 in April from 109.8 in March, defying expectations for a pullback. That boosted the euro and sent the greenback lower. In the currency market, the dollar which weighs the strength of the dollar against a basket of six other currencies fell by 0.31%. A weaker dollar is a generally positive for gold and other commodities as it makes them less expensive to holders of other currencies.