Showing posts from October, 2008

Gold prices fell

Gold prices fell for the futures contract in New York more than 5 per cent on Thursday to break the level of $ 840 an ounce (Profile, Research) by a sharp rise of the dollar against the euro and with the demand of investors to sell for cash to cover their losses amid a sharp decline in U.S. stocks. It fell for December delivery contracts (December) 48.8, or 5.5 per cent to 838.5 dollars an ounce on the COMEX market.
And other precious metals fell sharply as well, and silver prices fell for the December contract (December) the next $ 1.33 or 10.9 per cent to 11.44 dollars a troy ounce, while platinum prices fell in January contracts (January) 48.1, or 4.6 per cent to 995 dollars.
Oil prices fell U.S. futures contract more than four dollars in morning trading on the New York Mercantile Exchange on Thursday negatively affected by the rise of the dollar and fears of a downturn in demand in the sluggish economy after the U.S. government announced a substantial increase in natural gas inven…