Bullion movement was overall uneventful most of the week. More attention was paid to employment and housing reports. Analyst were closely monitoring the data and whispers of the Fed, trying to judge potential interest rate adjustments.
Given the latest data, many analysts expect a quarter-point cut next week. For news on these fronts, watch the included Reuters videos.
Bullion prices for the week
Platinum was lackadaisical. It started at $1450 on Monday and closed $8 higher to $1458 an ounce.
Gold made a small upward surge and once again moved above $800 on Thursday. However, the stay was short and gold ended up closing Friday at $792 an ounce.
Silver hiccuped slightly on Monday and Thursday but sustained a very slow upward trend, closing at $14.44 an ounce.
Above is the CoinNews.net chart showing this week’s London Fix (PM) prices for silver, gold and platinum. The previous Friday is included for reference.
Reuters Wall Street and Business videos
Investment ’08 outlook cloudy -analysts: Dec. 7 – The investment horizon looks unclear, at least for the first half of 2008, as turmoil in the housing and credit markets threaten to offset a series of rate cuts. (Reuters summarization)
Wall Street quiet ahead of Fed: Dec. 7 – U.S. stocks barely moved on Friday as signs of a strong labor market offset consumer concerns and investors prepared for at least a quarter-point rate cut. (Reuters summarization)
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