Gold moved lower on Friday posting a close below $1000.00 for the second straight session largely on longs liquidating their positions. The catalyst was probably a weaker than expected report on durable goods orders which pushed the US dollar higher and in turn pressured the yellow metal. Later on gold remained on the defensive even when the greenback gave back its initial gains with some analysts also pointing out the possibility of books squaring ahead of the end of the quarter. Silver declined with gold but showed a bit more resilience settling just 5 cents lower at $16.000/oz after reaching an intraday low of $15.910/oz.
Gold & Silver