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Bullion & Business Weekend Report – Oct. 31

October 31, 2009 by · Leave a Comment 

Precious metals retreated on the week as prices fell following a stronger US dollar. New York crude oil dropped the most in a month on Friday, yet still managed an October rise of 9 percent. US stocks also declined sharply Friday to mark their worst one-day slide since April. The Dow, S&P and Nasdaq registered respective weekly losses of 2.6 percent, 4.0 percent, and 5.1 percent. European stocks declined as well.

Weekend Recap: Silver, Gold and Platinum Prices; Business Week NewsIn London bullion weekly figures, gold fell 2.0 percent, silver shot down 6.1 percent and platinum retreated 3.8 percent. Friday precious metals prices follow:

London silver closed to $16.57 an ounce, plummeting $1.08 from last Friday’s close. New York December silver futures ended at $16.255 for a $1.47 weekly plunge.

London gold was fixed at $1,040.00 an ounce for a $21.75 loss on the week. New York gold for December delivery finished at $1,040.40 for a weekly decline of $16.00.

London platinum ended at $1,320.00 an ounce, falling $52.00 since last Friday’s close. New York platinum for January delivery ended at $1,326.30 for a $43.20 weekly retreat.

Read the rest of Bullion & Business Weekend Report – Oct. 31 (1,413 words)

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