New York precious metals jumped off a cliff Thursday and hit the ground hard. Silver, gold and platinum plunged 13 percent, 4.8 percent and 4.9 percent, respectively. Precious metals weren’t lonely in their fall. U.S. stocks tumbled while oil lost 4.6 percent.
In fact, markets on the whole moved lower over economic concerns that were further aggravated by today’s news of rising U.S. jobless claims and falling factory orders.
November crude oil dropped $4.56 to $93.97 per barrel. It ended toward its intraday low of $93.88.
December silver plunged $1.65 to close to $11.12 an ounce.
October platinum lost $50.10 to end at $979.60 an ounce.
December gold fell $43 to settle at $844.30 an ounce.
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New York precious metals retreated while the U.S. dollar climbed Thursday as news of a "fundamental" agreement came from Washington regarding the U.S. $700 billion financial rescue plan. Nymex Silver, gold and platinum futures lost, 1.2 percent, 1.5 percent, and 2.8 percent, respectively.
November crude-oil recovered from Wednesday’s 88 cent loss to gain $2.29, closing to $108.02 per barrel.
December silver lost 16 cents to close to $13.28 an ounce.
October platinum fell $40.8 to end at $1,184.20 an ounce.
December gold dropped $13 to close to $882 an ounce.
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New York silver, gold and platinum futures fell Tuesday, as the U.S. dollar showed strength and crude dropped following yesterday’s monstrous surge.
After gaining more than $16 Monday, November crude-oil fell $2.76 to end at $106.61 per barrel.
December silver lost 28 cents to close to $13.17 an ounce.
October platinum fell $23.80 to end at $1,212 an ounce.
December gold dropped $17.80 to close to $891.20 an ounce. Concerns over the government’s proposed $700 bailout and its impact has some analyst believing gold is better positioned to trend higher. But the known and unknown variables in play offer no guarantees either way, obviously.
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New York silver, gold and platinum futures were on fire Wednesday as the government’s takeover of American International Group (AIG) and financial uncertainty spurred investors away from Wall Street and toward precious metals and oil. Gold marked is biggest dollar gain in more than two decades with a $70 rise.
October crude-oil jumped $2.35, or 2.6 percent, to $93.50 per barrel.
December silver climbed an impressive $1.16, or 11 percent, to end at $11.68 an ounce.
October platinum gained $17.80, or 1.7 percent, to close to $1,086.30 an ounce.
December gold rose sharply by 9 percent to close to $850.50 an ounce.
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New York gold futures fell further Thursday, reaching an impressive nine-day losing streak and smashing through the mental $750 barrier. Silver and platinum faltered as well, while the US dollar gained against the euro.
Gold prices were not helped by oil either. October crude fell another $1.71 to $100.87 per barrel; its lowest level since early April,
December silver dropped 33 cents, or 3 percent, to end at $10.56 an ounce.
October platinum dropped further by $39.80, or 3.3 percent, to close at $1,152.20 an ounce.
December gold fell $17, or 2.2 percent, to close to $745.50 an ounce, a price not seen since last October.
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New York precious metals were violently battered downward Tuesday, as silver, gold and platinum lost 2.9 percent, 1.3 percent, and 6.7 percent, respectively. The metals followed crude-oil prices, which neared $100 per barrel on expectations OPEC would not reduce output and new forecasts showing Hurricane Ike’s aim could miss major refining operations in the Gulf.
October oil fell $3.08 to $103.26 per barrel; its lowest level since April.
December silver slid 34 cents, or 2.9 percent, to end at $11.72 an ounce.
October platinum plunged $90.80 to close to $1,262.10 an ounce.
December gold fell $10.50 to close to $792 an ounce. The yellow metal reached its lowest point earlier in the day at $780.20 an ounce — a level not seen since November of 2007.
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New York precious metals fell for the third consecutive trading session, as crude-oil retreated slightly and the U.S. dollar gained against the euro and British pound. Silver felt the worst of it with a fall of 1.5 percent. It was followed by platinum and gold at 0.8 percent and 0.3 percent, respectively.
October oil fell by just 36 cents, to close to $109.35 per barrel.
December silver slipped by 20 cents to end at $12.95 an ounce.
October platinum lost $11.30 to $1,392.20 an ounce.
December gold drops for a small loss of $2.30 to close to $808.20 an ounce.
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New York gold and platinum futures rose with higher oil prices and a weaker U.S. dollar Wednesday. Silver fell nearly 1 percent.
Crude oil for October finished up $1.88 to $118.15 a barrel on furthering concerns over Hurricane Gustav’s threat to the Gulf, and Energy Department data showing unexpected declines in U.S. gas and crude supplies.
Silver for October settled to $13.50 an ounce, losing 0.8 percent.
October platinum gained $19.70, or 1.4 percent, to end at $1,440.70 an ounce.
December gold climbed $5.90 to close at $834.40 an ounce.
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New York silver and platinum rallied sharply Thursday with each rising over 5%. Gold shined as well moving up 2.8%. A soft U.S. dollar that was tripped by financial worries and rebounding crude-oil prices were cited as precious metals catalyst shakers.
October crude-oil gained for the third consecutive session, rising an impressive $5.62 to close at $121.18 a barrel.
Silver for September gained 5.3%, rising 68.7 cents to close to $13.74 an ounce.
October platinum rose sharply by $89.90 to end at $1,458.80 an ounce — a 5.1% increase.
December gold gained a firm $22.70 to close at $839 an ounce.
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New York platinum was the biggest precious metals mover Wednesday, while gold and silver experienced small losses.
September crude-oil gained for the second consecutive session, rising 45 cents to close at $114.98 a barrel.
Silver for September fell by 6.5 cents to close to $13.04 an ounce.
October platinum gained $17.60 to end at $1,368.90 an ounce.
December gold dropped slightly by 50 cents to close to $816.30 an ounce.
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