by Christopher Freeburn | January 4, 2013 5:05 pm
Gold rebounded from session lows after a report on U.S. employment last month suggested that the American economy is slowing, possibly increasing the chance that the federal government will continue stimulus efforts. Despite the recovery, gold still closed down for the day.
Gold futures for February delivery fell 1.5% to $1,648.90 on Friday, according to CME Group. Gold traded as high as $1,664.50 and as low as $1,626. Gold bullion closed in London at $1,659, according to BullionVault.
Silver futures for February delivery dropped 2.6% % to $29.92 per ounce. Friday’s high for silver was $30.21, while the low was $29.25.
Gold and silver funds were mixed in Friday trading.
Gold and silver mining ETFs were also mixed during the day.
Gold mining shares were mostly higher, with NovaGold Resources (NYSE:NG) rising the most.
Silver mining shares mostly advanced 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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