Gold falls on session, ends year higher
by Elaine Frei
Precious metals prices were mixed in New York on Monday.
February gold was down $4.70 to $838 per troy ounce as the US dollar saw gains versus the euro on the news that existing home sales were up in the United States in November.
Despite the day’s decline, US gold ended higher for the seventh year in a row and some analysts were predicting that it would hit all-time highs in the first quarter of 2008.
April platinum also saw declines, dropping $14.10 to $1,525.40 per troy ounce.
March silver, however, added 3 cents to $14.92 to cap its seventh consecutive year of gains.
Among base metals, March copper dropped 3 cents to $3.04 per pound in New York.
While copper prices ended the year 6.4 percent higher than they began, it was the smallest yearly gain since 2001 after a year in which the housing market slump led to less demand for the metal.
Builders constitute the biggest market for copper in the US, with around 400 pounds of the metal used in the construction of the average home.
Related posts to: Gold falls on session, ends year higher
Gold falls on easing inflation fears ...
Gold ends November lower ...
Gold falls 1.1 percent on New York session ...
Gold ends even in New York ...
Zambia introduces 15% copper concentrates levy ...
Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Copper drops on home sales data
Next: Precious metals gain on lower dollar, higher oil prices »
Visited 1081 times, 1 so far today