| Gold and Silver Mark Weekly Losses, US Mint Coin Demand Improves |
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Many analysts had a bullish attitude toward the yellow metal when closing up shop last week. But sentiment — at least short term — quickly changed Wednesday when Fed Chairman Ben Bernanke testified before Congress without signaling another round of monetary easing. Gold plunged 4.3% on that day, recovered a modest 0.6% Thursday and then backed down 0.7% on Friday. |
Gold declined Friday with other commodities and U.S. stocks, assuring its biggest weekly loss this year which came to $66.60, or 3.7%.
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