Bullion & Business Weekend Report – Feb 28
February 28, 2009 by goldguru · Leave a Comment
Precious metals were battered as gold fell for five straight days and below the $1,000 mark it had just surged over last Friday. For the numbers, the London gold fixing fell 3.7 percent, silver lost 7.5 percent and platinum dropped 2.5 percent. The Dow lost 4.1 percent, the S&P declined 4.5 percent and the Nasdaq fell 4.4 percent. European stocks ended lower as well.
New York crude-oil for April delivery closed Friday to $44.76 a barrel, falling 46 cents, or 1 percent. However, oil surged 12 percent on the week.
AAA said the average price for unleaded gasoline on Saturday settled to $1.903 a gallon compared to $1.843 a month ago and $3.164 one year back.
London silver ended at $13.21 an ounce, tumbling $1.07 since last Friday’s close.
London gold closed to $952.00 an ounce, falling $37.00 for the week.
London platinum settled to $1059.00 an ounce, declining $27.00 on the week.
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