Gold Reclaims $1000, Silver Surges, Stocks Decline Slightly

Precious metals were on fire Wednesday as a weakened US dollar helped gold jump back above $1,000 an ounce. The yellow metal also benefited from a huge rally in crude oil prices. By day’s end, gold and silver recorded their biggest gains in nearly four weeks. US stocks were less fortunate, falling slightly on the day but still ending 15 percent higher for the quarter.

New York precious metals figures follow:

• Silver for December delivery soared 48 cents, or 3.0 percent, to $16.658 an ounce.

• Gold for December delivery advanced $14.90, or 1.5 percent, to $1,009.30 an ounce.

• October platinum climbed $24.70, or 1.9 percent, to $1,295.60 an ounce.

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