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Gold Rises 1% on Week; Silver Posts 6.3% Weekly Increase
Gold and silver futures declined Friday but the pair still scored their second straight weekly increase. Palladium declined on the day and for the week. Platinum, meanwhile, advanced for both. Gold for August delivery shed $1.40, or 0.1%, to settle at $1,426.70 an ounce on the Comex division of the New York Mercantile Exchange. "Some of the hot money driving prices higher in futures and options has clearly closed out the week by taking profit," MarketWatch quoted Adrian Ash, director of research at BullionVault. "Big picture, the switch to weaker interest rates and new stimulus looks set to keep gold on the boil." ... (full story)