Saturday, April 12, 2008

Gold Futures Finish Lower

Gold futures finished lower Friday mainly due to long liquidation. Markets stayed in tight range amid rangebound crude oil prices, volatile U.S dollar and caution ahead of a weekend meeting of Group of Seven finance ministers and central bankers in Washington.

June gold fell $4.80 to settle at $927 a troy ounce on the Comex division of the New York Mercantile Exchange.

May silver lost 35.3 cents to finish at $17.69 an ounce.

In other metals trading, July platinum fell $16.90 to $2,028.10 an ounce, June palladium settled $6.60 higher at $475.35 an ounce, and the most-active May copper contract rose 2.05 cents to settle at $3.9445 a pound.

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