Gold Flat After Obama’s Syria Address

by Christopher Freeburn | September 11, 2013 4:45 pm

Gold Silver GLD IAU SLV[1] U.S. President Barack Obama’s televised speech Tuesday night appeared to indefinitely delay any American military action against the regime of Syrian dictator Bashar al-Assad and left gold virtually unchanged in Wednesday trading.

Gold futures for December delivery dipped 20 cents to $1,363.80 per ounce on Wednesday, according to CME Group[2]. Gold traded as high as $1,368.70 and as low as $1,356. Gold bullion closed in London at $1,365, according to BullionVault[3].

Silver futures for December delivery rose 0.7% to $23.17 per ounce. Wednesday’s high for silver was $23.25, while the low was $22.79.

Gold and silver funds were mostly flat in Wednesday trading.

Gold and silver mining ETFs advanced during the day.

Gold mining shares mostly gained on Wednesday.

Silver mining shares were mostly higher 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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