Gold Climbs as Government Shutdown Fears Mount

by Christopher Freeburn | September 27, 2013 4:27 pm

Gold Silver GLD IAU SLV[1]Gold rose in Friday trading as investors contemplated the prospect of a spending bill showdown over the weekend between congressional Republicans and the White House that threatens to shut down the U.S. government as early as next week. The metal closed out the week with a 0.5% gain.

Gold futures for December delivery jumped 1.1% to $1,339.20 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,345.20 and as low as $1,320. Bullion closed in London at $1,338, according to BullionVault[3].

Silver futures for December delivery edged up 0.3% to $21.83 per ounce. Friday’s high for silver was $22.18, while the low was $21.41.

Metal funds posted modest gains in Friday trading.

Mining ETFs advanced slightly during the day.

Gold mining shares were mixed on Friday.

Silver mining shares were also mixed 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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