Friday, April 29, 2011

Gold futures jump over $25 to settle at a record. WOW!

By Myra P. Saefong


Gold futures settled at a record Friday, jumping more than $25 an ounce by the close as weakness in the U.S. dollar and expectations for further declines in the greenback drove investors toward the relative safe haven of precious metals. Gold for June delivery GCM11 +1.97% jumped $25.20, or 1.7%, to settle at $1,556.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ended 3.5% higher for the week and finished the month with an 8.1% gain. July silver +2.08% also rose by 98.9 cents, or 2.1%, to $48.53 an ounce, though prices were not yet settled. Tracking the most-active contract, silver futures were trading 5.4% higher for the week, up 28% for the month.

No comments:

Post a Comment