by Christopher Freeburn | December 21, 2012 4:23 pm
Gold rose in Friday trading as negotiations between the White House and Congressional Republicans over the U.S. budget appeared to be at a standstill, with Congress about to break for the holidays. Despite today’s gain, the metal still lost more than 2% for the week.
Gold futures for February delivery rose 0.9% to $1,660.10 on Friday, according to CME Group. Gold traded as high as $1,660.50-and as low as $1,636.30. Gold bullion closed in London at $1,659, according to BullionVault.
Silver futures for February delivery increased 1.8% to $30.18 per ounce. Friday’s high for silver was $30.26, while the low was $29.75.
Gold and silver funds advanced in Friday trading.
Gold and silver mining ETFs also moved mostly higher during the day.
Gold mining shares mostly gained, with NovaGold Resources (NYSE:NG) rising the highest.
Silver mining shares were mixed on Friday.
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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