Commodities and Futures – Gold and Silver Prices Advanced in US and Asia while Crude Oil Slides
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(Best Syndication News) For the week nearly all commodity prices were lower, but on Friday traders were given a reprieve (see commodity and futures tables below). Even gold was higher as traders were relieved to see the Greek Parliament pass austerity measures.
Although initial jobless claims were higher than some analysts expected on Thursday, stock markets turned around in Europe and the United States on Friday. This helped bullish traders in energy.
While most eyes were on the European debt crisis last week, Canada reported better than expected inflationary growth. The consumer price index increased 0.2 percent in September when most economists believed there would only be an increase of 0.1 percent.
December gold on the COMEX increased $23.20 (+1.44%) to $1,636.10 a troy ounce (see the survey #2 settle price chart below). The golden metal is down 2.79 percent on the week and 9.77 percent over the last 30-days.
December silver futures were 91 cents higher (+3.01%) to $31.193 an ounce. The ratio between gold and silver shrank to 52.5.
Platinum was up $16.80 (+1.13%) to $1,503.70 an ounce. The difference between gold and platinum shrank to $132.40.
Gold and silver prices were higher on the Tokyo Commodity Exchange (TOCOM). Gold advanced three yen (+0.07%) to ¥4,011 a gram. See the TOCOM chart below for our exclusive dollar conversions..............
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