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Thursday, February 23, 2012

gold silver futures prices feb 24 2012

gold silver futures prices feb 24 2012, why gold prices down feb 24 2012 : Gold futures eased slightly in electronic trading in East Asia on Friday, with few catalysts to drive new buying after investors flocked to precious metals in Thursday’s regular U.S. session, boosting gold to multi-month highs.

Gold for April delivery GCJ2 -0.47% was at 1,780.70 an ounce, down $5.60 from the U.S. closing level on the Comex division of the New York Mercantile Exchange. Thursday’s action marked the highest U.S. closing level since Nov. 11.

Silver futures were also weaker on Friday, with the March contract SIH2 -0.58% at $35.40 an ounce, off 16 U.S. cents, or 0.4%, from its New York close.

Analysts at GFT Markets in London said a combination of fresh buying and the exit of investors holding bearish short positions on metals helped to stoke recent gains, sending gold up 3% and silver rising 4% for the week through mid-session Thursday.

GFT analysts said the stronger tone came as metals broke above key technical indictors or approached levels of overhead price resistance.

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