Gold Prices End the Week Higher
Gold prices lifted Friday after the dollar fell slightly in value.
Benchmark bullion futures tacked on $9.80 to close at $891.50 an ounce on the Comex division of the New York Mercantile Exchange. The price of gold tends to rally as the value of the U.S. currency drops.
The
SPDR Gold Trust
(GLD) - Get Report
, which holds inventories of solid gold ingots, was ahead 1.1% in recent trading on the New York Stock Exchange.
As for the precious-metals patch,
Eldorado Gold
(EGO) - Get Report
was up 1.6%, and
Yamana Gold
(AUY) - Get Report
was lifting 2.8%, both buoyed by the rallying metals price.
In the foreign-exchange market, one euro was buying $1.5554 vs. $1.551 on Thursday. One dollar was trading for 105.4 Japanese yen, down from 105.5 yen previously. The British pound was selling for $1.98 vs. $1.9745.
The
CurrencyShares Euro Trust
(FXE) - Get Report
and the
CurrencyShares Japanese Yen Trust
(FXY) - Get Report
were ahead 0.4% and 0.2%, respectively. The
CurrencyShares British Pound Sterling
(FXB) - Get Report
was up 0.3%.