Gold Posts Strong 6% Gain for August

by Christopher Freeburn | August 30, 2013 4:28 pm

Gold Silver GLD IAU SLV[1]Fading prospects of a U.S. military strike on Syria weakened gold’s safe-haven appeal, sending the metal lower in Friday trading. Still, gold closed out the month with a 6.3% gain.

Gold futures for December delivery dropped 1.2% to $1,396.10 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,411.50 and as low as $1,391.80. Gold bullion closed in London at $1,398, according to BullionVault[3].

Silver futures for December delivery slid 2.6% to $23.51 per ounce. Friday’s high for silver was $24.07, while the low was $23.41.

Gold and silver funds sank in Friday trading.

Gold and silver mining ETFs moved lower during the day.

Gold mining shares declined on Friday.

Silver mining shares retreated 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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