Gold higher, seen as safe haven
by Elaine Frei
Prices on most precious metals were higher on Friday as investors looked for safe places to put their money as the news didn’t seem to get any better concerning the chaos in the US subprime mortgage market.
As equities markets dropped all over the world, December gold added $8.80 in New York to $681.60 per troy ounce.
Even with the day’s gains, gold was still down 0.4 percent on the week even though it held on to a gain of 6.8 percent so far this year.
September silver was also higher, adding 17 cents to $12.87 per troy ounce.
October platinum was up $4 on the session, to $1,279.30 per troy ounce on increased demand, a gain of 12 percent this year.
Palladium, meanwhile, was down $4 on the session to trade at $358.20 per troy ounce.
Among base metals, September copper held steady at $3.36 per pound in New York.
Add to Bookmarks:
Related posts to: Gold higher, seen as safe haven
Gold investors watch and wait ...
Gold gains on safe-haven status ...
Copper adds 17 cents per pound in New York ...
Metals prices follow oil lower ...
Copper up but closes well below session highs ...
Latest Metals News:
Copper prices drop in New York, London BHP Billiton scraps plans to acquire Rio Base metals see more price declines Copper prices fall on inventories, US housing data Copper, aluminium gain after early declines Gold drops half a dollar in New York Copper pares gains on US retail data Copper, aluminium inventories continue to climb Alcoa delays expansion at Wagerup and cuts production Platinum, palladium down on auto sector problemsPrevious: « Agnico-Eagle approves Mexican gold mine
Next: South Korea plans worldwide mine development »
Visited 752 times, 2 so far today