A weak report on non-farm U.S. payrolls for last month sent gold higher in Friday trading, leading the metal to post a gain for the week. Gold rose as the Dow Jones closed above 14,000 for the first time since October 2007.
Gold futures for March delivery rose about 0.5% to $1,669.90 on Friday, according to CME Group. Gold traded as high as $1,681.90 and as low as $1,660. Gold bullion closed in London at $1,670, according to BullionVault.
Silver futures for March delivery gained almost 2% to $31.96 per ounce. Friday’s high for silver was $32.16 an ounce, while the low was $31.30.
Gold and silver funds rose in Friday trading.
- The SPDR Gold Trust (NYSE:GLD) edged up 0.2%.
- The iShares Gold Trust (NYSE:IAU) increased 0.1%.
- The iShares Silver Trust (NYSE:SLV) advanced 1.1%.
Gold and silver mining ETFs also gained during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX) increased 1.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) climbed 1.3%.
- The Global X Silver Miners ETF (NYSE:SIL) rose 1.9%.
Gold mining shares moved higher on Friday.
- Agnico-Eagle Mines (NYSE:AEM) gained 0.9%.
- Barrick Gold (NYSE:ABX) increased 0.9%.
- Eldorado Gold (NYSE:EGO) advanced 1.3%.
- Goldcorp (NYSE:GG) sank 1.8%.
- Kinross Gold (NYSE:KGC) climbed 1%.
- Newmont Mining (NYSE:NEM) rose 1.8%.
- NovaGold Resources (AMEX:NG) surged 2.9%.
- Yamana Gold (NYSE:AUY) moved up 1%.
Silver mining shares also advanced.
- Coeur d’Alene Mines (NYSE:CDE) gained 1.4%.
- Hecla Mining (NYSE:HL) surged 3.1%.
- Pan American Silver (NASDAQ:PAAS) rose 0.7%.
- Silver Wheaton (NYSE:SLW) climbed 2%.
- Silver Standard Resources (NASDAQ:SSRI) increased 1.4%.
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.