Precious Metals Move Higher in Thin Pre-Holiday Trading
Doug Casey (May 26th, 2009) Writes:
Gold had a boring, if mildly positive, day on Friday, as many traders left their desks to get a jump on the Memorial Day weekend, locking the metal up in a tight range between $950 and $960, leading to a finish at $956.50/oz., up $2.60. For the week, gold added 2.8%.
Platinum fell off in the far East, rebounded to the New York open, then traded choppily through the rest of the day, to little ultimate effect as it ended at $1153, up $4. For the week, platinum was up 4.7%.
Silver was also off in Hong Kong, but rose sharply in Europe, peaking at $14.81, then traded inside a 20-cent range for the rest of the day, closing in the middle at $14.69, up 14 cents. For the week, silver gained a robust 5.3%. (Click here for charts)
The precious metals did well, holding onto their gains for the
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