Friday, August 3, 2007
Platinum down $1 in New York
Story link: Platinum down $1 in New York
by Elaine Frei
by Elaine Frei
Precious metals prices were mixed on Friday.
December Gold added $7.80 in New York to trade at $684.40 per troy ounce for a gain of 1.2 percent on the day and 1.8 percent on the week and 7.3 so far this year.
The gain came as the US dollar weakened again on the prospect that interest rates will remain unchanged at least through the end of the year and might actually be cut should data show a slowdown in the US economy.
September silver was also higher, gaining 16 cents to $13.16 per troy ounce and sending it up 1.3 percent on the session and 3.5 percent higher this week.
October platinum, however, dropped $1 to trade at $1,298 per troy ounce.
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