Gold Posts Weekly Loss of More Than 2%

by Christopher Freeburn | October 4, 2013 4:22 pm

Gold Silver GLD IAU SLV[1]Gold declined modestly in Friday trading as the U.S. government remained shutdown by a political impasse for the fourth consecutive day. The metal ended down 2.2% for the week.

Gold futures for December delivery sank 0.6% to $1,309.90 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,326 and as low as $1,305.10. Bullion closed in London at $1,313, according to BullionVault[3].

Silver futures for December delivery dipped 0.2% to $21.75 per ounce. Friday’s high for silver was $21.93, while the low was $21.50.

Metal funds mostly slid in Friday trading.

Mining ETFs sank during the day.

Gold mining shares retreated 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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