Gold futures dropped slightly on Wednesday as crude oil dropped and the dollar regained some strength, and lower-than-expected US consumer prices dampened bullion's appeal as a hedge against inflation. August off 30 cents at $931.90 an ounce at 10:54 am EDT (1454 GMT) on the COMEX division of the New York Mercantile Exchange.
GOLD: Ranged from $928.40 to $938.90. COMEX estimated 10 am volume at 44,868 lots. Gold-oil ratio up at 13.40, against the 13.21 of the previous session. Spot gold traded at $931.20, down 0.3 percent from its previous session. London gold fix at $930.50 an ounce.
SILVER: July down 1.5 cent at $14.145 an ounce in quiet trade, tracking gold's weakness. Ranged from $13.930 to $14.285. COMEX estimated 10 am volume at 25,076 lots. Spot silver was at $14.14 an ounce, up 0.2 percent from its previous finish. London silver fix at $14.02 an ounce.
PLATINUM: July down $17.90, or 1.5 percent, at $1,203 an ounce, taking the lead from weaker crude oil. Spot platinum at $1,199 an ounce, down 1.3 percent from its previous session.
PALLADIUM: September down $2.80, or 1.2 percent, at $240 an ounce, following platinum's losses. Spot palladium was at $237 an ounce, down 1.3 percent from its previous finish.
Comments
Comments are closed.