U.S. Coin Collecting

Gold, Silver Rise Friday but Plunge on Week, US Mint Bullion Coins Surge

Modestly paring weekly losses, gold and other precious metals rebounded Friday as the U.S. dollar pulled back and investors stepped in to buy on the bargain. "Some people were taking the opportunity to scoop it (gold) up at lower levels. And, it's still up year to date. So, it wasn't surprising that people wanted to sell it off to raise cash for the year end," Reuters quoted David Lee, metals trader at Heraeus Precious Metals Management in New York. A stumbling euro had boosted the greenback for most of the week, and that translated into weekly losses of 6.9% for gold — its biggest weekly fall in nearly three months, 8.0% for silver, 6.5% for platinum and 8.9% for palladium. Palladium's drop was perhaps a bit more stinging having been the only precious metal to rally last week. Read the rest of Gold, Silver Rise Friday but Plunge on Week, US Mint Bullion Coins Surge