Gold Has Another Disappointing Day, but Silver Rises Again
Doug Casey (November 3rd, 2008) Writes:
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
...Adrian Day, cent;, central bank intervention, cents, contrarian profits, CRB, Financial, Goldmoney.com;, Hong Kong, James Turk, Jefferies, Market Commentary, metal, Michigan, Oil Prices, Paul Sutherland;, Traverse City;, USD


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