Silver, gold rebound from shaky week

Silver futures picked up 5 %  while gold topped $1,500 an ounce Monday, rebounding from a rocky week on the U.S. commodity market. Silver futures rose $1.83, or 5.2 %, to settle at $37.12 an ounce on the Comex division of the New York Mercantile. Silver closed at $34.92 an ounce Friday. Gold futures rose $11.60, or 0.8 percent, to settle at $1,503.20 an ounce Monday. The precious metal closed at $1,485.90 on Friday. "The gold success today is a nice reflection -- a mirror image almost -- of the dollar index failure today along the 75 fault line," Richard Hastings, a macro strategist at Global Hunter Securities, told MarketWatch.com. The euro was trading at $1.4358, up from Friday's $1.4332. Against the yen, the dollar was 80.24, compared with Friday's 80.55 yen. The dollar traded for 44.680 Indian rupees, compared to 44.72 Indian rupees on Friday. Against the Hong Kong dollar, the U.S. dollar was 7.7724, compared to 7.7710 Friday. The Australian dollar was $1.08 compared with Friday's $1.07. Copyright 2011 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.