Gold Registers a Positive Week Despite Flat Friday

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

Gold Registers a Positive Week Despite Flat Friday

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.

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. session in London: http://www.bullionvault.com/
  4. amid hints that QE is on the way: http://investorplace.com/2012/08/gold-silver-bring-home-healthy-gains-gld-iau-slv-ssri/
  5. told BullionVault: http://goldnews.bullionvault.com/gold-bullion-082420121
  6. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  7. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  8. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  9. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  10. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  11. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  12. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  13. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  14. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  15. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  16. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  17. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  18. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  19. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  20. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  21. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  22. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  23. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  24. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  25. BullionVault: http://www.bullionvault.com

Source URL: http://investorplace.com/2012/08/gold-regsiters-a-positive-week-despite-flat-friday/
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