Gold Ends the Week Down Nearly 6%

by Christopher Freeburn | September 13, 2013 4:13 pm

Gold Silver GLD IAU SLV[1]Gold continued to slide on Friday as an early tapering of Federal Reserve stimulus appeared more likely to investors and the chances of U.S. military action in the Middle East seemed increasingly remote. The precious metal finished almost 6% lower for the week.

Gold futures for December delivery fell 1.7% to $1,308.60 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,330.80 and as low as $1,304.60. Gold bullion closed in London at $1,323, according to BullionVault[3].

Silver futures for December delivery sank 1.9% to $21.72 per ounce. Friday’s high for silver was $22.19, while the low was $21.42.

Gold and silver funds mostly gained in Friday trading.

Gold and silver mining ETFs mostly moved higher during the day.

Gold mining shares mostly increased on Friday.

Silver mining shares advanced 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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  23. BullionVault:

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