Gold drops over $27 per ounce
by Elaine Frei
Precious metals prices fell substantially on Thursday after the US dollar showed gains in relation to the euro.
December gold was $27.40 lower at $787.30 per troy ounce and went as low as $784 per troy ounce earlier in the session.
Gold’s declines were also put to drops in the price of crude oil and to profit taking after recent gains.
In addition, some analysts said that the recent volatility in gold prices could be dissuading some investors from buying.
December silver dropped 58 cents to $14.49 per troy ounce while January platinum was down $20.70 to $1,425.40 per troy ounce and December palladium fell $2.85 to $370.95 per troy ounce.
Platinum and palladium both remained higher on the year so far, however, with platinum up 25 percent since January and palladium still 9.6 percent higher.
Add to Bookmarks:
Related posts to: Gold drops over $27 per ounce
Platinum down almost $5 in New York ...
Silver price drops slightly ...
Gold drops nearly $7 per troy ounce ...
Gold, platinum see gains but silver drops ...
Gold drops $1.50 per ounce ...
Latest Metals News:
Copper, aluminium prices climb as other base metals fall Copper up in London; inventories fall, cancelled warrants rise Copper gains on US jobs data, China comments Copper up on weaker dollar Copper prices climb after Chile quake Metals prices mixed in New York, London Gold down slightly in NY on stronger dollar Copper prices up after last week’s declines Copper, other metals continue price declines Copper in big declines on economic concernsPrevious: « Tanzania to review mining contracts
Next: Base metals decline on profit-taking »
Visited 1693 times, 3 so far today