Gold Posts Third Consecutive Weekly Decline

by Christopher Freeburn | October 26, 2012 4:39 pm

PreciousMetalsRecap Gold Posts Third Consecutive Weekly Decline[1]Gold futures declined slightly Friday after growing concerns over a cooling global economy offset better-than-expected news about U.S. GDP growth, marking the metal’s first three-week loss in more than a year.

Gold futures for December delivery slipped to $1,711.90 on Friday, according to CME Group[2]. Gold traded as high as $1,719.90 and as low as $1,701.40. Gold bullion closed in London at $1,715, according to BullionVault[3].

Silver futures for December delivery also dipped, closing down at $32.04 per ounce. Friday’s high for silver was $32.38, while the low was $31.60.

Gold and silver funds moved slightly lower in Friday trading.

Gold and silver mining ETFs retreated during the day.

Gold mining shares moved lower on Friday, with Eldorado Gold (NYSE:EGO[10]) sinking the most.

Silver mining shares mostly fell on Friday.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

  1. [Image]:
  2. CME Group:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDX:
  8. GDXJ:
  9. SIL:
  10. EGO:
  11. AEM:
  12. ABX:
  13. GG:
  14. KGC:
  15. NEM:
  16. NG:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

Source URL:
Short URL: