Gold futures closed lower on Friday retreating from a 27 year high, but posted strong weekly gains of more than 3% following a weak US dollar and high oil prices, according to the market pulse report on Dubai Gold and Commodities Exchange (DGCX).
On DGCX, October delivery gold futures closed lower at $733.00/troy oz recording a loss of 0.39%. The near-term silver futures defied the direction of the yellow metal, marking a gain of 15.50 cents or 1.15%. In the Forex Market the US dollar continued to weaken against the Euro and the British pound but improved slightly against the Japanese Yen and the Indian Rupee.
DGCX October 2007 delivery gold futures contract opened on Friday at $737.80/troy oz showing an upward gap of $1.90 from its previous close. Prices initially braced to a high of $739.10 and thereafter receded to a low of $728.10. The contract finally settled at $733.00/troy oz - churning in a loss of $2.90 or 0.39%. Open interest in the October futures edged lower by 75 contracts and ended the session at 632. DGCX Gold futures for December delivery concluded the day at $740.00 logging in a loss of $1.80 or 0.24%. DGCX December?07 silver futures ended today?s session at $13.655/troy oz, recording a gain of 15.50cents or 1.15%.
In the Forex market segment, DGCX Euro contract for December 2007 opened at $1.4110/Euro and declined to a low of $1.4067 during early part of the session. Later in the day it soared to its lifetime high of $1.4120. The contract finally concluded the day at $1.4105 near the higher traded levels posting a gain of 0.03%. Dec?07 dated DGCX GBP contract opened at $2.0065/GBP and fell a tad before climbing to a day high of $2.0167. The contract finally ended the session at $2.0160 logging in a gain of 0.53%. DGCX Yen futures maturing in Dec?07 edged lower by 0.96% and settled at an exchange rate of $0.8746 for 100 Yen. The Indian Rupee futures for October?07 depreciated by 0.14% to settle at an exchange rate of $2.5051 for 100 rupees.
DGCX Fujairah Fuel Oil contract for September 2007 added 50cents or 0.13% to its previous closing figure and concluded the session at $400.30/metric ton.
In the US energy market crude oil futures closed slightly lower on Friday taking a break from a record run that began early last week, but the new benchmark contract gained 5% for the week. November delivery crude oil futures ended lower by 16 cents to close at $81.62 a barr. Source
On DGCX, October delivery gold futures closed lower at $733.00/troy oz recording a loss of 0.39%. The near-term silver futures defied the direction of the yellow metal, marking a gain of 15.50 cents or 1.15%. In the Forex Market the US dollar continued to weaken against the Euro and the British pound but improved slightly against the Japanese Yen and the Indian Rupee.
DGCX October 2007 delivery gold futures contract opened on Friday at $737.80/troy oz showing an upward gap of $1.90 from its previous close. Prices initially braced to a high of $739.10 and thereafter receded to a low of $728.10. The contract finally settled at $733.00/troy oz - churning in a loss of $2.90 or 0.39%. Open interest in the October futures edged lower by 75 contracts and ended the session at 632. DGCX Gold futures for December delivery concluded the day at $740.00 logging in a loss of $1.80 or 0.24%. DGCX December?07 silver futures ended today?s session at $13.655/troy oz, recording a gain of 15.50cents or 1.15%.
In the Forex market segment, DGCX Euro contract for December 2007 opened at $1.4110/Euro and declined to a low of $1.4067 during early part of the session. Later in the day it soared to its lifetime high of $1.4120. The contract finally concluded the day at $1.4105 near the higher traded levels posting a gain of 0.03%. Dec?07 dated DGCX GBP contract opened at $2.0065/GBP and fell a tad before climbing to a day high of $2.0167. The contract finally ended the session at $2.0160 logging in a gain of 0.53%. DGCX Yen futures maturing in Dec?07 edged lower by 0.96% and settled at an exchange rate of $0.8746 for 100 Yen. The Indian Rupee futures for October?07 depreciated by 0.14% to settle at an exchange rate of $2.5051 for 100 rupees.
DGCX Fujairah Fuel Oil contract for September 2007 added 50cents or 0.13% to its previous closing figure and concluded the session at $400.30/metric ton.
In the US energy market crude oil futures closed slightly lower on Friday taking a break from a record run that began early last week, but the new benchmark contract gained 5% for the week. November delivery crude oil futures ended lower by 16 cents to close at $81.62 a barr. Source
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