Gold Registers a Positive Week Despite Flat Friday

by Angela Nazworth | August 24, 2012 4:46 pm

PreciousMetalsRecap Gold Registers a Positive Week Despite Flat Friday[1]Gold futures were flat Friday, with a final bid of $1,669.80 per ounce, according to CME Group data[2]. 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[3].

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[4].

“Additional stimulus is inevitable, the question is how it comes,”  Charles Morris, who manages around $2.5 billion at HSBC Asset Management, told BullionVault[5]. “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.

Gold and silver mining ETFs showed varied results.

Gold mining shares were mixed Friday, with Kinross Gold (NYSE:KGC[12]) having a good day.

Silver mining shares were mixed Friday.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[25] contributed to this report.

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  2. CME Group data:
  3. session in London:
  4. amid hints that QE is on the way:
  5. told BullionVault:
  6. GLD:
  7. IAU:
  8. SLV:
  9. GDX:
  10. GDXJ:
  11. SIL:
  12. KGC:
  13. AEM:
  14. ABX:
  15. EGO:
  16. GG:
  17. NEM:
  18. NG:
  19. AUY:
  20. CDE:
  21. HL:
  22. PAAS:
  23. SLW:
  24. SSRI:
  25. BullionVault:

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