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Precious metals up and down

Gold and silver investors might have been made a little seasick as the two precious metals fluctuated widely as the old year closed and trading in the new year began.
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This article was originally printed in the latest issue of Numismatic News.
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Gold and silver investors might have been made a little seasick as the two precious metals fluctuated widely as the old year closed and trading in the new year began.

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On Dec. 31, gold reached a record high of $1,421.10 an ounce by the close of New York trading. On Jan. 3, 2011, it inched ahead to $1,422.60.

Then came the reaction.

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On Jan. 4, gold dropped $44.10 to close at $1,378.50 and on Jan. 5 it declined a further $5.10 to $1,373.40.

Silver followed a similar path.

On Dec. 31, it closed at $30.915 a troy ounce and then went up a bit further on Jan. 3 to close at $31.096.

Silver’s fall was a bit stronger than gold’s. On Jan. 4 it closed trading at $29.492, down 5.2 percent. Gold’s tumble that day was just 3.1 percent.

On Jan. 5, silver slipped a further 31.9 cents to $29.173.

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