Flat Friday for Gold, Silver Inches Lower

by Angela Nazworth | August 17, 2012 5:12 pm

Flat Friday for Gold, Silver Inches Lower

PreciousMetalsRecap Flat Friday for Gold, Silver Inches Lower[1]Gold futures were flat Friday, with a final bid of $1,616.70 per ounce, according to CME Group data[2]. Gold prices reached a high of $1,620 and a low of $1,614.10. Gold bullion traded at $1,619 per ounce for Friday’s trading session in London, according to BullionVault[3].

“The market is still moving on changing expectations of central bank actions,” ANZ Senior Commodity Strategist Nick Trevethan said[4]. “[Gold in dollars] is so far unwilling to push prices out of the $1590 to $1630 range.”

Silver futures were 0.7% lower Friday, with a final bid of $28 per ounce. Friday’s high for silver reached $28.29, and the low was $27.96.

Gold funds ticked up Friday, while iShares Silver Trust (NYSE:SLV[5]) dipped. 

Gold and silver mining ETFs were mixed.

Most gold mining shares suffered losses Friday.

Silver mining shares were mixed.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[24] contributed to this report.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. CME Group data: http://www.cmegroup.com/trading/metals/precious/gold_quotes_settlements_futures.html
  3. BullionVault: http://www.bullionvault.com/
  4. Nick Trevethan said: http://goldnews.bullionvault.com/gold-bullion-081720121
  5. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  6. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  7. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. :GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=:GDXJ
  10. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  11. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  12. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  13. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  14. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  15. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  16. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  17. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  18. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  19. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  20. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  21. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  22. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  23. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  24. BullionVault: http://www.bullionvault.com

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