Gold shines but silver turns pale
Bullion prices ended in a mixed mode on Friday, 27 June 2015 at Comex. Gold futures settled higher on Friday to end a five-session streak of losses as growing concerns that Greece's debt woes will drag on, even if an agreement on bailout funding is reached next week, helped buoy the metal's investment appeal.
August gold added $1.40, or 0.1%, to settle at $1,173.20 an ounce on Comex. That was the first session gain since June 18, based on the most-active contracts. Prices still suffered their first weekly loss in three weeks, down roughly 2.4% from last Friday's settlement.
September silver ended down 7.3 cents, or 0.5%, at $15.768 an ounce, for about a 2.3% weekly decline.
Against that backdrop, the ICE U.S. Dollar Index was up about 0.3%. A strong dollar can weigh on dollar-denominated gold.
Greece has been given a Monday deadline to reach an economic-reform agreement with its creditors ahead of key repayment due next week, but media reports said that the country's international creditors are planning to extend its bailout program by five months.
More From This Section
Economic data at Wall Street was limited to the final reading of the Michigan Sentiment Index for June, which was revised up to 96.1 from a preliminary reading of 94.6 while the consensus expected no change. The June reading was up from 90.7 in May, representing the highest level for the index since hitting 98.1 in January.
Powered by Capital Market - Live News