(GoldAlert.Com) Gold futures climbed on Friday amid a broad-based rally in commodities and weakness in the U.S. dollar.COMEX gold futures for August delivery jumped $13.50, or 0.9%, to $1,536.30 per ounce. For the week, gold futures posted a gain of $27.40, or 1.8%.
Silver futures for July delivery on the COMEX added $0.52, or 1.4%, to $37.86 per ounce. Gold’s sister precious metal posted a 7.9% weekly gain, its largest since April 18-22.
In afternoon trading, the U.S. Dollar Index (DXY) dropped 0.8% to 74.96 against a basket of foreign currencies. The dollar’s weakness was fueled by disappointing economic data in the U.S., particularly the worse than expected pending home sales report.
Source link:http://www.goldalert.com/2011/05/gold-futures-rise-1-8-this-week-silver-surges-7-9/
Silver futures for July delivery on the COMEX added $0.52, or 1.4%, to $37.86 per ounce. Gold’s sister precious metal posted a 7.9% weekly gain, its largest since April 18-22.
In afternoon trading, the U.S. Dollar Index (DXY) dropped 0.8% to 74.96 against a basket of foreign currencies. The dollar’s weakness was fueled by disappointing economic data in the U.S., particularly the worse than expected pending home sales report.
Source link:http://www.goldalert.com/2011/05/gold-futures-rise-1-8-this-week-silver-surges-7-9/
