Gold and silver prices were moving higher in Friday morning trading, even as a healthy print on September retail sales gave investors a bit more confidence that the U.S. economy wasn’t falling into another black hole.
Spot gold briefly breached the $1,680-per-ounce level early today and was trading at $1,672.50 Bid, $1,673.50 Ask, having hit a high of $1,685 and a low of $1,671.70. The London p.m. gold fix was set at $1,678 by the London Bullion Market Association.
Spot silver was bid at $32.16 with an ask price of $32.26, having hit a morning high of $32.65 and a low of $31.94. The reference price for spot delivery of an ounce of silver was set at $31.82 by the LBMA in the London a.m.
In stock exchange trading, gold and silver trusts were moving up.
Gold and silver mining ETFs started the day up strongly.
Shares of gold miners were broadly higher, with NovaGold Resources the exception.
Silver mining shares also were moving higher Friday morning.
As of this writing, Andrew Burger did not hold a position in any of the aforementioned investments.