by Christopher Freeburn | December 26, 2012 4:57 pm
Gold advanced slightly in light trading on Wednesday as investors awaited word of a deal on the U.S. budget after President Barack Obama said he would cut short his vacation and return to Washington. London markets were closed for Boxing Day.
Gold futures for February delivery rose fractionally to $1,660.70 on Wednesday, according to CME Group. Gold traded as high as $1,668.70 and as low as $1,650.60. Gold bullion closed in London at $1,662, according to BullionVault.
Silver futures for February delivery closed up 0.5% $30.11 per ounce. Wednesday’s high for silver was $30.10, while the low was $29.95.
Gold and silver funds increased in Wednesday trading.
Gold and silver mining ETFs also moved higher during the day.
Gold mining shares advanced, with Newmont Mining (NYSE:NEM) rising the highest.
Silver mining shares were mixed on Wednesday.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.
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