by Angela Nazworth | August 24, 2012 4:46 pm
Gold futures were flat Friday, with a final bid of $1,669.80 per ounce, according to CME Group data. Gold prices reached a high of $1,672.80 and a low of $1,662.60. Gold bullion finished at $1,671 per ounce for Friday’s session in London.
Despite today’s mediocre performance, gold finished the week on a high note thanks to yesterday’s surge amid hints that QE is on the way.
“Additional stimulus is inevitable, the question is how it comes,” Charles Morris, who manages around $2.5 billion at HSBC Asset Management, told BullionVault. “There’s no doubt about it, this is gold’s moment. All the long-term trend signals suggest that gold is in a very strong bull market.”
Silver futures climbed 0.5% Friday, with a final bid of $30.62 per ounce. Friday’s high for silver reached $30.70, and the low was $30.19.
Gold and silver funds ticked up Friday.
Gold and silver mining ETFs showed varied results.
Gold mining shares were mixed Friday, with Kinross Gold (NYSE:KGC) having a good day.
Silver mining shares were mixed Friday.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.
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