Bullion & Business Weekend Report - Nov 1
Precious metals and world stock markets rushed forward for the week. London gold, silver and platinum gained 3 percent, 1.4 percent, and 7.7 percent, respectively. The Dow rallied 11.3 percent, marking its best performance in 34 years, but it also recorded its worst month since the October stock market crash of 1987. The S&P surged 10.5 percent, but posted a monthly decline of 16.9 percent. And the Nasdaq gained 10.9 percent, yet lost 17.7 percent in October.
Nymex December crude gained $1.85, or 2.8 percent on Friday, to settle at $67.81 per barrel. However, it marked its largest ever monthly drop of $32.83, or 32.6 percent, and is off more than 54 percent from its record of $147.27 in July. The good news for consumer, however, was that the average U.S. retail price for a gallon of regular gasoline on Friday fell to $2.50.
London silver ended at $9.28 an ounce — a gain of 27 cents on the week, or 40 cents from last Friday.
London gold fell to $730.75 an ounce, rising $10 for the week, or $18 from last Friday.
London platinum climbed to $814 an ounce — a gain of $58 for week, or $36 from last Friday.


