Bullion & Business Weekend Report – June 6

by CoinNews.net on June 6, 2009 · 0 comments

With the exception of gold, markets were generally positive on the week. As silver advanced and platinum surged, the yellow metal in London closed lower for the first time in five weeks. Outside of precious metals, crude-oil marked a third week of gains while U.S. stocks continued their upward trends. European stocks finished higher for the week as well.

Weekend Recap: Silver, Gold and Platinum Prices; Business Week NewsFor the week in London, gold lost 1.4 percent, silver gained 0.8 percent, and platinum soared 8.5 percent. London precious metal figures follow:

Silver closed Friday to $15.65 an ounce, rising 13 cents this week.

Gold was fixed at $962.00 an ounce, falling $13.50 for the week.

Platinum surged to $1,275.00 an ounce, rising $100.00 on the week.

 

"We still think that gold prices are headed up toward $1,000 over the next one to two weeks, with support coming from inflows of investment and weakness in the dollar," Tom Pawlicki, an analyst at MF Global in Chicago, was quoted on Bloomberg.

 

To follow are silver, gold and platinum performance charts, precious metal articles, oil news and week-ending world stock summaries.

London Fix Charts: Silver, Gold and Platinum
(May 29 – June 5)



The London Fix is one of the most used bullion quotes around the world. The London AM fix for gold and platinum begins at 10:30am GMT (5:30am in New York), and the PM fix begins at 3pm GMT (10am in New York). The London Fix for silver begins each business day at 12pm GMT (7am in New York).

London Fix figures: percent and dollar changes*

(May 29 – June 5)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
0.8%
$0.13
$15.65
Gold
 
X
-1.4%
-$13.50
$962.00
Platinum
X
 
8.5%
$100.00
$1275.00

(May 22-29)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
5.9%
$0.86
$15.52
Gold
X
 
1.6%
$15.75
$975.50
Platinum
X
 
2.3%
$26.00
$1175.00

(May 15-22)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
5.3%
$0.74
$14.66
Gold
X
 
3.3%
$30.25
$959.75
Platinum
X
 
3.6%
$40.00
$1149.00

(May 8-15)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
0.1%
$0.02
$13.92
Gold
X
 
2.5%
$22.50
$929.50
Platinum
 
X
-3.5%
-$40.00
$1109.00

(May 1-8)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
14.4%
$1.75
$13.90
Gold
X
 
2.5%
$22.50
$907.00
Platinum
X
 
6.8%
$73.00
$1149.00
*Week change numbers are for Friday PM-Friday PM

Bullion articles of interest

In related news, interesting or quick-read articles:

  • June 5US gold ends 2 pct down, near $950/oz on dlr rally – Reuters
    Gold futures fell toward $950 an ounce on Friday, losing 2 percent as a better-than-expected U.S. jobs report sparked a dollar rally and boosted hopes for an economic recovery, denting gold’s appeal as a safe haven…
  • June 4 UHR’s Double, Guam Quarters Surge – CoinNews
    New UHR $20 gold coin sales double up, Guam quarters soar, Braille Silver Dollars sink, and Lincoln Rail Splitter totals approach 24 million. To the US Mint numbers…
  • June 3Louisa Adams First Spouse Gold Coins Lead in Sales – First Spouse Coins
    Sales picked up for all but one of the available eight US Mint First Spouse Gold Coins. Given that the numbers were less than impressive the last go-around, the task of overtaking them was hardly a magnificent feat. But several of the coins had solid figures that would standout on any week…
  • June 3 US Silver Coin Sales – Silver Coins Today
    With the exception of the DC & US Territories Quarters Silver Proof Set, silver coin sales were mostly lackluster based on the latest US Mint stats. The quarters silver proof set surged with an additional 12,238 sold for a total of 163,703. Not bad considering…
  • June 2 Gold Eagle Sales Mark 5th Best May – CoinNews
    Demand for 2009 Eagle Gold Bullion Coins has declined to the lowest level of the year, but sales still recorded the 5th best May ever for a series that dates back to 1986. Further, 2009 continues to be the strongest year of sales for the bullion coins since the Y2K safe-haven buying in 1999…

Reports on world business, oil prices and stocks

Oil ended lower Friday, but had risen earlier above $70 for the first time in six months. New York crude-oil for July delivery closed down 37 cents to $68.44 a barrel. However, the contract ended higher on the week by 3.2 percent.

Gasoline prices continued their upward trend on Saturday, according to AAA. The national average for unleaded gasoline is $2.606 a gallon, which is 12.6 cents higher than a week ago and 46.5 cents higher than a month back.

U.S. stocks were mixed Friday, but ended to mark another up week as the Dow gained 3.1 percent, the S&P 500 rose 2.3 percent, and the Nasdaq surged 4.6 percent.

Friday closing figures for the three major US indexes follow:

  • The Dow gained 12.89 points to close at 8,763.13.

  • The S&P 500 lost 2.37 points, closing to 940.09.

  • The NASDAQ fell .60 points to finish at 1,849.42.

And in other world markets:

  • The German DAX rose 12.23 points to close at 5,077.03.

  • The Paris CAC 40 gained 27.02 points to close at 3,339.05.

  • And the London FTSE 100 climbed 51.62 points to close at 4,438.56.

Conway Gittens reports on the sale of U.S. automaker Chrysler to Italian auto company Fiat and U.S. and European stock results in a Reuters business summary.

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