SAN FRANCISCO �� Gold prices rallied Thursday to
log their highest settlement in nearly three weeks as growing unrest in
Iraq and weakness in U.S. equities drove demand.
Platinum and palladium prices slumped, with palladium dropping almost 5% a day after closing at its highest level since 2001.
Gold for August delivery rose $12.80, or 1%, to
settle at $1,274 an ounce on the Comex division of the New York
Mercantile Exchange. Prices marked their highest settlement since May
23, based on the most-active contracts.
July silver on Thursday, rose 36 cents, or 1.9%, to
end at $19.53 an ounce, the highest close for a most-active contract
since mid-May.
Copy Source: MarketWatch
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