Monday, August 6, 2007
Gold prices decline, inventories fall
Story link: Gold prices decline, inventories fall
by Elaine Frei
by Elaine Frei
Precious metals prices were mixed on Monday.
Gold closed the session in New York with a decline of $1.10 to $683.30 per troy ounce as crude oil prices dropped and the dollar was unsettled ahead of this week’s decision on interest rates from the US Federal Reserve.
Inventories of gold were down 398 troy ounces to 7.15 million troy ounces late on Friday, according to the New York Mercantile Exchange, while silver stockpiles were up 596,279 troy ounces to 132.7 troy ounces.
September silver was lower, down 13 cents to $13.03 per troy ounce, while September palladium was 45 cents lower to $366.60 per troy ounce.
On the other hand, October platinum added $1 to $1,299 per troy ounce.
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