Gold and silver were moving higher Friday morning despite signs of growing appetite for risk from investors off the back of Italy’s Senate passing new austerity measures. The approval sends the package to a Saturday lower house vote, and its passing would pave the way for the resignation of Prime Minister Silvio Berlusconi and the formation of a new, transitional government.

Spot gold was nearly 0.8% higher around 10 a.m., having traded as high as $1,775.70 per ounce and as low as $1,761.70 Friday morning. Spot gold was bid at $1,770.60 with an ask price of $1,771.60. The London morning reference price was set at $1,764, according to Kitco market data.

Spot silver was up 1.15% and trading at $34.42 Bid, $34.52 Ask. The morning high as of time of writing was $34.66 per ounce, and the low was $33.78. Friday’s reference price was set at $33.78 in the London a.m.

Gold and silver trusts were moving higher Friday morning.

• The SPDR Gold Trust (NYSE:GLD) was nearly 0.9% higher.
• The iShares Gold Trust (NYSE:IAU) was around 0.75% higher.
• The iShares Silver Trust (NYSE:SLV) was up about 1.1%.

Gold and silver mining ETFs also were moving up.

• The Market Vectors Gold Miners ETF (NYSE:GDX) was more than 2.3% higher.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) was nearly 2% higher.
• The Global X Silver Miners ETF (NYSE:SIL) was more than 1.9% higher.

Shares of gold miners were up, with NovaGold Resources (AMEX:NG) more than 4% higher.

• Agnico-Eagle Mines (NYSE:AEM) was around 0.7% higher.
• Barrick Gold Corp. (NYSE:ABX) was more than 2.3% higher.
• Goldcorp (NYSE:GG) was up nearly 2.5%.
• Newmont Mining Corp. (NYSE:NEM) was showing gains of nearly 2%.
• NovaGold Resources was up about 4.3%.

Silver miners’ shares were showing sharp gains.

• Coeur d’Alene Mines Corp. (NYSE:CDE) was some 3.6% higher.
• Hecla Mining (NYSE:HL) was up around 2.9%.
• Pan American Silver Corp. (NASDAQ:PAAS) was more than 2.5% higher.
• Silver Wheaton Corp. (NYSE:SLW) was around 2.3% higher.
• Silver Standard Resources Inc. (NASDAQ:SSRI) was about 3.8% higher.

As of this writing, Andrew Burger did not own a position in any of the aforementioned stocks.