Precious metals slid lower for the week with platinum feeling the worst of it after poor automotive results were announced. The metal is used in catalytic converters, which accounts for some 50 percent of its demand. Silver lost 12 cents for the week and gold dropped $17 mostly due to lower oil prices and strength in the US dollar.

London silver closed the week to $17.59 an ounce — a gain of 4 cents from last Friday.

London platinum fell to $1,675 an ounce — a drop of $77 for the week and a loss of $51 compared to its previous Friday close.

London gold closed to $913 an ounce, losing $8.50 from last Friday.

"The metal [gold] turned higher in late trading, following gains in crude oil precipitated by Israeli statements regarding the "unacceptable" stage that Iranian nuclear development is reaching," said senior analyst Jon Nadler at Kitco Bullion Dealers.

"Platinum-group metals fell sharply, following yesterday’s US GDP figures for Q4 2007, this morning’s $15.5 billion Q2 2008 loss reported by GM, and by a further 13.3 percent fall in Ford auto sales."

Silver, gold and platinum performance charts and tables follow as well as a Reuters weekly business recap video and three related precious metal articles.

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