Precious metals prices mixed on session
by Elaine Frei
Gold prices fell in New York on Friday on the possibility that the euro’s recent rally could be coming to an end as the shared currency was little changed versus the US dollar.
December gold dropped $2.80 to $834.70 per troy ounce by the end of floor trade, but it still managed to gain 3.2 percent on the week.
Among other precious metals, January platinum fell $47.60 to $1,426 per troy ounce, its biggest one-day decline since Oct. 2 and a 2.5 percent decline over the week, on fears of slowing demand after Federal Reserve chairman Ben Bernanke said Thursday that the US economy will likely slow down “noticeably” in the current quarter.
December palladium was $1.25 lower on the session to $376.25 per troy ounce, while silver added 3 cents to $15.55 per troy ounce.
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