Gold Slides, Ends Barely Above $1,600; Crude Drops
By The Associated Press
Gold prices are ending lower as investors become less skittish about the economy.
Gold for April delivery fell $26 to $1,609.50 an ounce Friday. That's a loss of 1.6 percent.
Most other metals prices also fell.The appeal of gold as an alternate store of value has slipped as the stock market has recovered since the beginning of the year .The S&P 500 index notched its seventh straight weekly gain Friday, its longest winning streak in more than two years, and it is up 6.6 percent so far this year. Agricultural commodities rose. In March contracts, wheat rose 10.25 cents to $7.4225 a bushel, corn rose 4 cents to $6.9875 a bushel and soybeans rose 6.5 cents to $14.245 a bushel. In metals trading, March silver fell 50.4 cents to $28.849 an ounce. April platinum fell $33.20 to $1,677.70 an ounce. March palladium fell $10.90 an ounce to $753.15 an ounce. Copper was little changed at $3.737 a pound. Oil fell $1.45 to finish at $95.86 a barrel on the New York Mercantile Exchange. Brent crude, used to price many varieties of foreign oil, fell 34 cents to end at $117.66 per barrel in London. Heating oil fell 1.33 cents to finish at $3.2104 a gallon, wholesale gasoline for April fell 0.26 cents to end at $3.138 a gallon, and natural gas fell 1 cent to finish at $3.153 per 1,000 cubic feet.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV