by Christopher Freeburn | January 2, 2013 4:37 pm
Gold advanced in Wednesday’s trading on the heels of a budget agreement approved by the U.S. House of Representatives that preserved Bush-era tax cuts on the middle class and averted the worst effects of the fiscal cliff.
Gold futures for February delivery rose 0.8% to $1,688.80 on Wednesday, according to CME Group. Gold traded as high as $1,695.40 and as low as $1,670.90. Gold bullion closed in London at $1,668, according to BullionVault.
Silver futures for February delivery increased 2.5% % to $30.98 per ounce. Wednesday’s high for silver was $31.45, while the low was $30.22.
Gold and silver funds advanced in Wednesday trading.
Gold and silver mining ETFs also rose during the day.
Gold mining shares moved higher, with NovaGold Resources (AMEX:NG) rising highest.
Silver mining shares also gained 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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