Friday, May 30, 2008
Gold up after recent price declines
Story link: Gold up after recent price declines
by Elaine Frei
by Elaine Frei
Precious metals prices were higher on Friday, with gold up on the possibility that the declines in recent days, amounting to a loss of 4.8 percent of the metal’s value, was too much.
August gold was up $9.80 around the end of floor trade in New York to $891.50 per troy ounce while July silver added 37 cents to $16.88 per troy ounce and July platinum jumped $19.80 to $2,010 per troy ounce.
A rise in oil prices over Thursday’s close also pulled metals prices up.
Among base metals, July copper was 5 cents higher to $3.61 percent in New York trade.
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