Gold futures were flat Friday, with a final bid of $1,669.80 per ounce, according to CME Group data. Gold prices reached a high of $1,672.80 and a low of $1,662.60. Gold bullion finished at $1,671 per ounce for Friday’s session in London.
Despite today’s mediocre performance, gold finished the week on a high note thanks to yesterday’s surge amid hints that QE is on the way.
“Additional stimulus is inevitable, the question is how it comes,” Charles Morris, who manages around $2.5 billion at HSBC Asset Management, told BullionVault. “There’s no doubt about it, this is gold’s moment. All the long-term trend signals suggest that gold is in a very strong bull market.”
Silver futures climbed 0.5% Friday, with a final bid of $30.62 per ounce. Friday’s high for silver reached $30.70, and the low was $30.19.
Gold and silver funds ticked up Friday.
- The SPDR Gold Trust (NYSE:GLD) showed marginal gains.
- The iShares Gold Trust (NYSE:IAU) was 0.1% higher.
- The iShares Silver Trust (NYSE:SLV) jumped 0.5%.
Gold and silver mining ETFs showed varied results.
- The Market Vectors Gold Miners ETF (NYSE:GDX) rose 0.3%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) was flat.
- The Global X Silver Miners ETF (NYSE:SIL) finished 0.4% higher.
Gold mining shares were mixed Friday, with Kinross Gold (NYSE:KGC) having a good day.
- Agnico-Eagle Mines (NYSE:AEM) was up 0.2%.
- Barrick Gold (NYSE:ABX) finished 0.7% lower.
- Eldorado Gold (NYSE:EGO) fell 0.1%.
- Goldcorp (NYSE:GG) rose 0.8%.
- Kinross Gold was 2.2% higher.
- Newmont Mining (NYSE:NEM) finished up 0.4%.
- NovaGold Resources (AMEX:NG) was down 1.1%.
- Yamana Gold (NYSE:AUY) climbed 0.9%.
Silver mining shares were mixed Friday.
- Coeur d’Alene Mines (NYSE:CDE) gained 1.2%.
- Hecla Mining (NYSE:HL) dipped 0.3%.
- Pan American Silver (NASDAQ:PAAS) fell 0.4%.
- Silver Wheaton (NYSE:SLW) was flat.
- Silver Standard Resources (NASDAQ:SSRI) dropped 0.9%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.