August 2012

Platinum and palladium rallied a respective 5.2% and 3.9% this week but silver and gold prices dropped, albeit modestly, with losses of 0.2% each. On Friday, December gold prices inched up 20 cents to close at $1,619.40 an ounce on the Comex division of the New York Mercantile Exchange.

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Gold, palladium and silver prices were higher on the week but platinum declined. Bullion traded within narrow ranges for most of the time and volume was exceptionally light.

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Gold prices rallied Friday but three prior day losses resulted in an overall 0.5% weekly loss. It was the single precious metal lower from a week ago. By comparison, silver and palladium each jumped 1.1% and platinum logged a modest weekly increase of 0.4%.

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