Gold pushed to $990 at the open of London trading on Wednesday, but that was all she wrote, as the metal declined almost $15 from there to the noon hour and then really plunged, selling off to below $965 by the end of the Comex, and finally ending at $962.60/oz., down $18.50. Overnight, gold has poked higher.

Platinum was rangebound between $1240 and $1250 until the noon hour, then it fell off, drifting to a close at $1235, down $4. Overnight, platinum is trending higher.

Silver followed gold’s path pretty closely and with even greater volatility, bursting past $16.20 in late Hong Kong trading, but then swooning by nearly a full dollar before some late buying action on the Globex led it to a finish at $15.31, down 65 cents. Overnight, silver has fallen off. (Click here for charts)

The precious metals were probably due for a hammering, and that’s

By Pham-Duy Nguyen Feb. 27 (Bloomberg) — Gold fell, capping the first weekly loss in three, as the dollar strengthened to the highest level since April 2006, eroding the appeal of the precious metal as an alternative investment. Silver advanced.

The U.S. Dollar Index rose against the currencies of six major trading partners on demand for a haven after the U.S. bailed out Citigroup Inc. for a third time, stoking concerns that the credit crisis and the recession may deepen. U.S. stocks fell for a third straight day and the Reuters/Jefferies CRB Index of 19 commodities dropped as much as 1.9 percent.

“The demand for dollars has outweighed the demand for gold in terms

Gold peaked just north of $810 in late Hong Kong trading, then fell steadily save for a couple of small bumps up, from there all the way through the Globex, before it finally settled at $768.20, down a whopping $48.10 from Friday. Overnight, gold has edged higher.

Platinum likewise peaked in Hong Kong, just over $850, and likewise eased from there through the Globex to end at $790, down $78. Overnight, platinum is trending higher.

Silver also declined from Hong Kong on, but really went waterfall when New York opened, shedding 70 cents in the first hour, and it never did recover as it ground to a close at $9.23, down $1.03. Overnight, silver has moved higher. (Click here for charts)

There’s no putting lipstick on this particular pig. It was simply a wicked bad day for the precious metals yesterday, a turnaround that was especially disappointing after the solid

Gold sank in the overseas markets, rallied back into positive territory by mid-morning Friday, but made its high for the day there, as it declined for the rest of the Comex before steadying through the Globex and finishing at $723.70, down $12.00. For the week, gold was off 1.5%.

Platinum bottomed near $770 in late Hong Kong trading, but moved gradually higher through most of the rest of the day, ending at $819/oz., down $7. For the week, platinum gained 3%.

Silver also hit its low late in Hong Kong, and it too pushed steadily higher, making it back into positive territory to close at $9.86/oz., up 13 cents. For the week, silver tacked on 5.2%. (Click here for charts)

While silver had a decent day, gold turned in yet another lackluster performance, ending October with a loss of 18%, the largest monthly decline for the metal in 28 years.

Gold