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Gold Ends Week at 11-Month High; Silver Prices Soar
Gold and silver rallied Friday, padding exceptional weekly gains and lifting their settlements to the highest in 11 months and 1.5 months, respectively. On Friday, gold for April delivery tacked on $50.50, or 2.6%, to close at $1,973.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s best since April 18. "Gold is surging on fears that more bad banking news could appear over the weekend and hopes that the Fed will pause its rate hikes next week," Reuters quoted Tai Wong, an independent metals trader based in New York. Gold prices soared 5.7% on the week after gains of ... (full story)
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- Posted: Mar 19, 2023 1:16am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 119
