Friday, December 14, 2007
New York gold down as USD gains on euro
Story link: New York gold down as USD gains on euro
by Elaine Frei
by Elaine Frei
Precious metals prices were mixed on Friday in New York.
February gold was $6 lower to $798 per troy ounce after the USD again gained on the euro, raising speculation that the Federal Reserve will hold interest rates steady in January.
In addition, some analysts think the price of gold has gone too high to attract new buyers.
March silver was also lower, dropping 25 cents to $13.98 per troy ounce, but January platinum added $7.60 to $1,479.20 per troy ounce.
Among base metals, meanwhile, March copper traded even at $2.96 per pound after falling as much as 1.2 percent earlier in the session on demand concerns.
On the other hand, three-month copper on the London Metal Exchange added $35 to $6,545 per tonne.
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