Gold and silver futures ended slightly lower in New York on Friday as profit-taking erased the modest gains gold had posted throughout the session.
Gold futures for August delivery fell 50 cents to $903.70 an ounce on the Comex division of the New York Mercantile Exchange, snapping a five-session rally. The metal climbed 3.5% this week.
Silver futures for July delivery dropped 7.3 cents, or 0.4%, to $17.397 an ounce. The metal rallied 5.1% this week, erasing last week's loss. The price has advanced 17% this year, while gold climbed 7.8%.
July platinum climbed $6.60 to settle at $2062.40 an ounce, and September palladium ended unchanged at $479.20 an ounce. September copper rose 5.25c to settle at $3.8305 a pound.
The metal still is down from a record $1,033.90 an ounce on March 17, while energy and agriculture prices have surged.
Saturday, June 21, 2008
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