Gold, Silver Climb as U.S. Dollar Sinks

by Christopher Freeburn | November 6, 2013 4:28 pm

Gold Silver GLD IAU SLV[1]A weakening U.S. dollar sent gold modestly higher in Wednesday trading. The metal gained during a session marked by relatively soft trading volume and drew additional support from rising investor expectations that the U.S. Federal Reserve will delay any tapering of its monthly bond-buying until next year.

Gold futures for December delivery rose 0.7% to $1,317.80 per ounce on Wednesday, according to CME Group[2]. Gold traded as high as $1,322 and as low as $1,308.90. Bullion closed in London at $1,320, according to BullionVault[3].

Silver futures for December added 0.6% to $21.77 per ounce. Wednesday’s high for silver was $22.08, while the low was $21.62.

Metal funds moved higher in Wednesday trading.

Mining ETFs advanced during the day.

Gold stocks improved on Wednesday.

Silver mining shares climbed 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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