Bullion & Business Weekend Report - July 26
Gold took its negative direction this week from tumbling oil prices and a stronger US dollar. Platinum faired worse by reaching toward six-month lows earlier, but managed to recover some of its lost ground Friday.
London silver closed the week to $17.55 an ounce — a loss of $1 from last Friday and a drop of 80 cents for the week.
London platinum fell to $1,726 an ounce — a drop of $146 for the week and a loss of $123 compared to its previous Friday close.
London gold closed to $921 an ounce, losing $46 for the week, or $40 from last Friday.
"In the short term, gold will remain at the mercy of both oil and the dollar," said James Moore, an analyst at TheBullionDesk.com.
"However, we still believe the current geopolitical/economic environment will keep investors in a more cautious mood, with demand for safe-haven-type assets likely to remain high," Moore said in a note.
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 are listed as well.



The Bureau of Engraving and Printing (
The United States Mint resumed sales of 2008 American Eagle Platinum Proof coins Thursday and the new prices are mind-blowing. One coin’s premium is marked up a whopping 63%. The popular one-ounce platinum coin is $796 higher than yesterday’s platinum price. What was the Mint thinking?