From Forbes:
Gold futures have now given up most of their gains for the year as the metal was pressured again Friday by a muscular U.S. dollar.That's a 4-year low for silver.
After the pit close on the Comex division of the New York Mercantile Exchange, gold for December delivery lost $10.30 to $1,216.60 an ounce. The market hit a low of $1,214.20 that was its weakest level since Jan. 2 and within striking distance of the ending 2013 price of $1,205.70.
December silver fell 67.3 cents to $17.844 an ounce, with a session low of $17.78. On a futures continuation chart, silver had not been below $18 an ounce since August 2010.
The London afternoon gold fixing was $1,219.75, down from the morning fixing of $1,222.50 and the Thursday afternoon price of $1,220.50.
“It’s because of nothing more than a higher dollar here,” said Sean Lusk, director of commercial hedging with Walsh Trading....MORE
See:
Chartology: "The Downside Target in Silver is Below $15"
Silver Bounces at Support For the Fourth Time In 14 Months
An Argument For $13 Silver and $1100 Gold
Gold, Silver Continue Fearless Decline
And many more.
