Index trending in the market was green across the board as of yesterdays close
of the U.S. trading session. Stocks closed at two year highs Thursday due in
part to positive reports stemming from the housing and jobs sectors. Precious
metals fell into the red however. Price per ounce for gold, silver, platinum and
copper were all lower by the end of day close. The dollar lost strength to the
euro, the Japanese yen and the British pound but precious metals continued to
trail off. Investors chose to look at the positive reports from the Labor
Department and the Commerce Department, and thus safe haven interest was lower.
The Department of Labor reported that the number of people filing for initial
unemployment benefits fell from 423,000 to 420,000 in the latest week. In
addition, the Commerce Department reported that new private home starts rose
higher than anticipated by analysts with an increase of 3.9% above the revised
October figures. By end of day close, Gold Futures for February delivery were
down by $15.20 and settled at $1,371 an ounce. Silver for March contract
delivery fell 1.61% and finished the day at $28.78 an ounce. Platinum was in the
red by .34% and ended the day lower at $1,698.60 an ounce. Copper per ounce
finished in the red by .40% at $4.12. Author: Camillo Zucari
No comments:
Post a Comment