Market Updates
Gold Down On Dollar Gains
Ivaylo
13 Jun, 2006
Metals
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At times, gold managed to stay into positive territory even when other metals were falling down. The yellow metal may have been supported by concerns that Iran''s nuclear program may go beyond peaceful purposes. All the other precious metals were down in throughout the trading.
[R]5:00AM Gold declines on a strong dollar and weakness in the energy sector.[/R]
August gold finished down $1.50 to $611.30 a Troy ounce on NYME, while July silver fell 14.5 cents to $11.065 an ounce. July platinum shed $18.80 to $1,171.40 an ounce, while September palladium slipped $9.80 to $315.75 an ounce. The most-traded July copper contract dropped 3.90 cents to settle at $3.2285 per pound.
The July crude oil contract closed $1.27 lower at $70.36 a barrel. July gasoline shed 2.85 cents to $2.1243 a gallon. On the New York Board of Trade, July Arabica coffee finished 0.25 cent lower at 95.65 cents a pound and September declined 0.25 cent to 98.45 cents. Futures on raw sugar in foreign ports for July ended down 0.14 cent at 14.91 cents a pound while October lost 0.16 cent to 15.27 cents a pound.
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