August 8, 2011, Los Angeles – Gold bullion prices rallied 0.92 percent or $15.10 to close at $1,663.40 an ounce on Friday after the Dow lost over 500 points on Thursday and investors looked to physical Gold as a haven for their investments, also during Friday’s session a rumor circulated that Standard & Poor’s ratings service may downgrade the U.S. credit rating, the rumor proved to be true later in the day when S&P made the announcement. The price of Silver slipped 1.34 percent or $0.52 to close at $38.33 an ounce while the Gold/Silver ratio rose to 43.40, as Silver under-performed Gold.
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