Gold, Silver Lose Luster
August 5, 2011 by UPI - United Press International, Inc.
NEW YORK, Aug. 5 (UPI) — Gold futures settled lower Friday on the Comex division of the New York Mercantile Exchange but still finished up for the week.
Gold fell $7.20, or 0.4 percent, to $1,651.80 an ounce. However, for the week, gold prices gained 1.3 percent as investors worried about whether the global economy was retreating into a recession.
Silver lost $1.22, or 3.1 percent, to $38.21 an ounce Friday. For the week, silver lost 1.4 percent.
The euro was $1.4266 Friday from Thursday’s $1.409. Against the yen, the dollar was to 78.43 from 78.94 yen Thursday.
The British pound was 1.6363 Friday compared with $1.6257 Thursday. The dollar was 0.9803 Canadian dollars from 0.9813 Canadian dollars Thursday. Against the Hong Kong dollar, the U.S. standard was 7.8076 Hong Kong Dollars from 7.8007 Hong Kong dollars Thursday.