Gold Posts 2% Weekly Gain to Start the New Year

by Christopher Freeburn | January 3, 2014 4:28 pm

PreciousMetalsRecap Gold Posts 2% Weekly Gain to Start the New Year[1]Gold advanced again on Friday, extending Thursday’s rally and closing out the week with a roughly 2% gain.

Gold futures for February delivery moved up 1.1% to $1,238.60 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,239.60 and as low as $1,221.30. Bullion closed in London at $1,239, according to BullionVault[3].

Silver futures for March delivery edged up 0.1%, to $20.21 per ounce. Friday’s high for silver was $20.33, while the low was $19.99.

Metal funds climbed 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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  23. BullionVault:

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