18-Jul-11 15:30 ET Dow -113.72 at 12366.08, Nasdaq -28.12 at 2761.83, S&P -12.62 at 1303.54

For 10 straight sessions gold prices have advanced. The latest round of action took the precious metal to $1603 per ounce for a 0.8% gain. The yellow metal actually set a record high of almost $1608 per ounce along the way. As for silver, prices climbed as high as $40.73 per ounce, but eased back to settle at $40.23 per ounce for a 2.9% gain. Silver hasn’t settled above $40 per ounce in more than two months.

Oil prices were pressured all session. The energy component closed pit trade with a 1.3% loss at $95.93 per barrel. It had been down in excess of 2%, for a time. Natural gas traded as low as $4.48 and as high as $4.61, but finished the day flat at $4.54 per MMBtu.

In the backdrop, the dollar was strong all session, and was recently quoted with a 0.5% gain against a basket of major foreign currencies. Its strength comes as the euro turns lower in response to ongoing concerns related to sovereign debt in Europe, although lawmakers continue to struggle to raise the debt ceiling.

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