Gold Posts Weekly Gain of Nearly 4%

by Christopher Freeburn | October 18, 2013 4:25 pm

Gold Silver GLD IAU SLV[1]Gold fell back slightly in Friday trading as investors took profits after yesterday’s sharp rise. Despite today’s dip, the metal closed out the week up 3.7%.

Gold futures for December delivery sank 0.6% to $1,314.60 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,328.90 and as low as $1,311.20. Bullion closed in London at $1,317, according to BullionVault[3].

Silver futures for December edged down 0.2% to $21.91 per ounce. Friday’s high for silver was $22.05, while the low was $21.74.

Metal funds were mixed in Friday trading.

Mining ETFs were also mixed during the day.

Gold stocks mostly sank on Friday.

Silver mining shares were 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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