Gold’s rise continued in electronic and overnight Asia-Pacific trading as the Philadelphia Federal Reserve reported its August regional manufacturing survey fell into recessionary territory. At -30.7, the Philly Fed’s index is at its lowest level since March 2009.

Spot gold was trading at $1,854.30 Bid, $1,855.30 Ask early Friday, hitting a high of $1,866.10 and a low of $1,840.80. The London p.m. gold fix came in at $1,848 per ounce. London gold fix prices have surged from just below $1,740 on Aug. 12 to exceed $1,820 yesterday.

Spot silver was trading at $42.08 Bid, $42.18 Ask, with the reference price fixed at $41.98 in the London a.m., according to Kitco market data.

In exchange trading, gold trusts were higher and the iShares Silver Trust was up sharply early Friday.

• The SPDR Gold Trust (NYSE:GLD) was more than 0.8% higher.
• The iShares Gold Trust (NYSE:IAU) was up more than 0.7%.
• The iShares Silver Trust (NYSE:SLV) was up 2.25%.

Gold and silver miner ETFs were up sharply, with the Global X Silver Miners ETF soaring.

• The Market Vectors Gold Miners ETF (NYSE:GDX) was more than 3% higher.
• The Market Vector Junior Gold Miners ETF (NYSE:GDXJ) was nearly 3.5% higher.
• The Global X Silver Miners ETF (NYSE:SIL) was up more than 4.6%.

Shares of gold miners were sharply higher, with NovaGold Resources leading the way.

• Agnico Eagle Mines (USA) (NYSE:AEM) was 3.25% higher.
• Barrick Gold Corp. (NYSE:ABX) was up more than 2.3%.
• Goldcorp (NYSE:GG) was about 2.6% higher.
• Newmont Mining Corp. (NYSE:NEM) was up 3.25%.
• NovaGold Resources (USA) (AMEX:NG) was up around 5%.

Silver mining shares were sharply higher as well, with Coeur D’Alene Mines headed skyward.

• Coeur D’Alene Mines Corp. (NYSE:CDE) surged higher, up more than 7%.
• Hecla Mining (NYSE:HL) was around 4.2% higher.
• Pan American Silver Corp. (USA) (NASDAQ:PAAS) was up more than 3.8%.
• Silver Wheaton Corp. (USA) (NYSE:SLW) was more than 4.8% higher.
• Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) was up nearly 2.6%.

The author does not hold positions in any of the above-mentioned investments.