Gold Edges Higher as Equities Continue to Slide

by Christopher Freeburn | January 24, 2014 4:22 pm

PreciousMetalsRecap Gold Edges Higher as Equities Continue to Slide[1]Gold extended yesterday’s gains, rising slightly in Friday trading. Gold benefitted from a selloff in major equities markets in Europe and the U.S., which deepened during the day. The metal ended the week with a gain of 1%.

Gold futures for February delivery inched up 0.2% to $1,264.30 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,273.20 and as low as $1,256.80. Bullion closed in London at $1,270, according to BullionVault[3].

Silver futures for March delivery sank 1.2%, to $19.77 per ounce. Friday’s high for silver was $20.99, while the low was $19.72.

Metal funds were mixed on Friday.

Mining ETFs declined during the day.

Gold stocks mostly retreated on Friday.

Silver mining shares pulled back 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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  22. SSRI:
  23. BullionVault:

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