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Articles on May 24th, 2008

Bullion & Business Weekend Report - May 24

Precious metals enjoyed positive gains for the week following record energy prices and a weaker U.S. dollar.

Weekend Recap: Silver, Gold and Platinum Prices; Business Week NewsLondon Platinum closed to $2,182 an ounce, which was up $46 compared to its previous Friday close.

Silver climbed Friday to $18.10 an ounce, up a blazing $1.27 compared to last week’s close.

And Gold shot up to $928 an ounce, up $31 over last Friday. What continues to strain the dollar and help push gold up? Crude prices and,

 

“Poor home sales and inventory data continued to weigh on the greenback as they underscore that however shallow this contraction may be, the U.S. is now in its 27th month of the rout in housing, with another possible six to twelve to go,” said Jon Nadler, a senior analyst at Kitco Bullion Dealers.

 

The silver, gold and platinum weekly charts and comparisons from last week are below. The weekly business recap video from Reuters and three related precious metal articles links are included as well.

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