Gold Climbs on Syria Tensions, Demand

by Christopher Freeburn | June 14, 2013 4:29 pm

PreciousMetalsRecap Gold Climbs on Syria Tensions, Demand[1]Gold rose in Friday trading as equities markets declined. The metal received a boost from rising international tensions over the civil war in Syria and strong demand for gold bars and coins. Gold closed out the week with a small gain.

Gold futures for July delivery increased 0.7% to $1,387.60 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,391.20 and as low as $1,378.80. Gold bullion closed in London at $1,392, according to BullionVault[3].

Silver futures for July delivery also improved 1.7% to $21.95 per ounce. Friday’s high for silver was $22.50 while the low was $21.62.

Gold and silver funds were moved higher in Friday trading.

Gold and silver mining ETFs retreated during the day.

Gold mining shares declined Friday.

Silver mining shares also slumped during the day.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

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