Gold Rises on Payroll Data for Weekly Gain

by Christopher Freeburn | February 1, 2013 4:58 pm

PreciousMetalsRecap Gold Rises on Payroll Data for Weekly Gain[1]A weak report on non-farm U.S. payrolls for last month[2] 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[3]. 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[4].

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.

Gold and silver mining ETFs also gained during the day.

Gold mining shares moved higher on Friday.

Silver mining shares also advanced.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[24] contributed to this report.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. weak report on non-farm U.S. payrolls for last month: http://investorplace.com/2013/02/january-jobs-report-winners-losers/
  3. CME Group: http://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.cmegroup.com
  4. BullionVault: http://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.bullionvault.com
  5. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  6. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  7. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  10. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  11. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  12. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  13. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  14. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  15. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  16. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  17. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  18. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  19. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  20. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  21. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  22. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  23. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  24. BullionVault: http://www.bullionvault.com/

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