London Fix

Safe-haven buying lifted U.S. gold prices to a six-week high on Thursday before a stronger dollar pressured the yellow metal to close 10 cents lower on Friday. Gold gained 0.9 percent this week after rising 1.8 percent last week. Other precious metals prices, however, fell this week — silver by 2.0 percent, platinum by 2.8 [...]

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Weaker-than-expected U.S. employment data set the direction of markets on Friday. The numbers rattled the dollar early and lifted gold which moved above $1200 an ounce and higher for an eighth straight session — its longest rally since November. Silver tracked gold for the day and week, but platinum and palladium settled lower for both [...]

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Gold settled higher for a third day on Friday, as bargain hunters stepped in on expectations prices would ultimately rise following a 5.0 percent loss in July — the biggest monthly decline since December. "People are trying to add to holdings of gold at a sale price," Zachary Oxman, managing director at TrendMax Futures, said [...]

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Stress test results of the European banking system were revealed Friday. Markets took their queue, moving firmly as the data indicated major banks could weather the storm of a double-dip recession. U.S. stocks rallied as the news was coupled with better-than-expected corporate earnings. The major indexes added to weekly gains that ranged between 3.2 percent [...]

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A sharp drop in consumer sentiment and falling inflation helped take U.S. gold to its knees on Friday. The yellow metal was hit for its biggest one-day drop since July 1, accounting for nearly all of its 1.8 percent weekly loss. Other precious metals futures followed gold lower, erasing prior weekly gains. Silver fell 1.6 [...]

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U.S. gold climbed Friday, rebounding to above $1,200 an ounce after trading below the psychological barrier for three straight days. Coming off its worst weekly performance in six, gold posted a modest gain of 0.2 percent this week. Crude oil rose for the first time in seven sessions Wednesday and never looked back –a three-day [...]

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U.S. gold rose modestly Friday after double-dip recession worries pulled prices down in the previous session to a five-week low for the biggest one-day loss since February 4. Gold gained $1 before the holiday weekend, but registered its worst week in six and its second straight weekly decline. Global economic concerns also pummeled other metals, [...]

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U.S. gold futures prices rushed toward their all-time high on Friday, capping a second day of gains and trimming losses from earlier in the week. A weaker dollar, stronger investor demand, and safe-haven buying were cited factors for lifting prices. The yellow metal edged a touch lower than last Friday’s record high, narrowly halting a [...]

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U.S. gold closed to a record high for a second day on Friday, capping its fourth straight week of gains. The yellow metal rode a tide of safe-haven buying as weak U.S. economic data and continued European debt woes lifted uncertainty about a global recovery. New York gold for August delivery advanced $9.60, or 0.8 [...]

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