AUG 11 MONDAY
Silver prices suffer weekly loss of 12%.
Gold futures closed more than $13 per ounce lower Friday, and
the weekly loss for silver prices exceeded 12% amid fresh
buying interest in the U.S. dollar, which pressured dollar
-denominated commodities such as gold and oil.
Gold for December delivery dropped $13.10 to close at
$864.80 an ounce on the New York Mercantile Exchange.
It traded as low as $858, the contract's weakest intraday
level since early May.
September silver, down 92.7 cents, or 5.7%, closing at $15.33 an
ounce. Silver futures traded at their lowest level since early
January, and for the week they're down 12.5%.
Tighter Chinese controls on currency inflows and worries about
the outlook for economic growth in the euro-zone countries
sent the dollar sharply higher Friday, while the European
common currency tumbled to a five-month low against
the greenback.
Crude-oil futures also fell Friday, pressured by the rallying dollar.
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