Gold Slips Despite Continuing Government Shutdown

by Christopher Freeburn | October 3, 2013 4:49 pm

Gold Silver GLD IAU SLV[1]After jumping sharply during the prior session, gold fell back marginally in Thursday trading. The metal’s retreat came even as the nation entered the third day of a U.S. government shutdown. Gold has fallen in three of the last four trading sessions.

Gold futures for December delivery dipped 0.2% to $1,317.60 per ounce on Thursday, according to CME Group[2]. Gold traded as high as $1,322.80 and as low as $1,302. Bullion closed in London at $1,320, according to BullionVault[3].

Silver futures for December delivery slid 0.5% to $21.79 per ounce. Thursday’s high for silver was $21.86, while the low was $21.44.

Metal funds moved slightly higher in Wednesday trading.

Mining ETFs declined during the day.

Gold mining shares pulled back on Thursday.

Silver mining shares mostly fell 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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