December gold futures were last down $5.60 an ounce at $1,222.40. December Comex silver was last down $0.257 at $14.245 an ounce. silver prices are sharply lower in early U.S. trading Friday, pressured by a firmer U.S. dollar index on and sharply lower crude oil prices.
Gold Silver Reports (GSR) – Gold prices had declined by Rs 150 in the past two days. Tracking gold, silver rates also dropped by Rs 100 to Rs 37,800 per kg. Prices of gold of 99.9% and 99.5% purity declined by Rs 50 each to Rs 31,950 and Rs 31,800 per 10 gram respectively. Sovereign gold held flat at Rs 24,800 for piece of 8 gram on scattered support.
Gold Silver Reports (GSR) – New York Fed President John Williams said the Federal Reserve “will be likely raising interest rates somewhat.” The recent winning streak began when Fed Chairman Jerome Powell warned last Wednesday of slowing demand abroad, fading fiscal stimulus at home and the lagged economic impact of the Fed’s past rate increases, suggesting that a pause in tightening may well come in 2019.
Gold Silver Reports (GSR ) – A weak dollar boosted investors’ appetite for greenback-denominated commodities. Further, US homebuilder sentiment reported its steepest one-month drop in near 5 years in November, which also kept bullion prices elevated.
Federal data showed new applications for U.S. unemployment aid fell last week and the number of Americans receiving benefits was the lowest in more than 45 years as labour market conditions tightened further.
“Our gold and silver production met our expectations, with gold production increasing due to the addition of two months of production from the Nevada operations and silver production declining due to lower expected grades at Greens Creek,” said Phillips S. Baker, Jr., President and CEO. “We are on track to meet annual production estimates at all operations.
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