Gold Posts Biggest Weekly Rise in Almost Two Years

by Christopher Freeburn | July 12, 2013 4:40 pm

Gold Silver GLD IAU SLV[1]Gold pulled back slightly in Friday trading, but still ended the week with a 5.4% gain — the metal’s largest weekly jump since October 2011.

Gold futures for August delivery slipped 0.2% to $1,277.60 per ounce Friday, according to CME Group[2]. Gold traded as high as $1,287.40 and as low as $1,266.40. Gold bullion closed in London at $1,285, according to BullionVault[3].

Silver futures for August delivery also sank 0.8% to $19.78 per ounce. Friday’s high for silver was $20.13, while the low was $19.67.

Gold and silver funds cooled in Friday trading.

Gold and silver mining ETFs pulled back during the day.

Gold mining shares mostly retreated on Friday.

Silver mining shares sank 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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