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Dow Ends Slowest Week in Years Up 3.71

December 29, 1990|From Times Wire Services

Other late dollar rates in New York, compared to late Thursday's rates included: 1.4935 German marks, down from 1.5255; 1.2745 Swiss francs, down from 1.3040; 5.0810 French francs, down from 5.1935; 1,126.50 Italian lire, down from 1,151.75, and 1.1601 Canadian dollars, down from 1.1616.

COMMODITIES Gold Futures Prices at a 3-Month High War fears and a weaker dollar helped push prices of gold futures to their highest levels in nearly three months Friday on New York's Commodity Exchange. Other precious metals also soared.

On other markets, crude oil rallied; copper futures surged; orange juice retreated; grains and soybeans were lower, and livestock and meat futures were mixed.

Gold futures settled $8.60 to $9.10 higher, with the contract for January delivery at $394, the highest settlement of a near-month gold contract since Oct. 8.

Silver futures were 9 to 9.9 cents higher, with January at $4.19 an ounce; platinum futures finished $4.50 to $7.20 higher on the New York Mercantile Exchange, with January at $409.90 an ounce.

Prices soared in thin trading conditions as the dollar weakened and Mideast tensions mounted.

February gold settled near the day's high at $396.20, "suggesting to me that the next stop will be somewhere in the low $400 area," said Peter Cardillo, commodities trading adviser with Jesup, Josephthal & Co. in New York.

Market Roundup, D6

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