Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Saturday 11th of February 2012
Thursday, November 1, 2007

Gold, silver drop on interest rate speculation

Gold, silver drop on interest rate speculation

Precious metals prices were mixed in New York on Thursday.

December gold dropped $1.60 to $793.70 per troy ounce as oil prices dropped and on suspicions that the Federal Reserve won’t cut US interest rates again this year.

Silver for December delivery was also lower, falling 11 cents to $14.33 per troy ounce.

Silver, which has more industrial applications than does gold, followed base metals prices lower on the session.

On the other hand, January platinum added $3.20 to $1,450.80 per troy ounce while December palladium gained $1.65 to $375.90 per troy ounce.

 


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