Gold and silver futures moved fractionally higher on Friday while precious metals equities climbed alongside the broader financial markets.
COMEX gold futures settled higher by $2.90, or 0.2%, at $1,618.00 per ounce while silver futures closed with a gain of $0.05, or 0.2%, at $27.50 per ounce.
The Philadelphia Gold & Silver Index (XAU), a leading composite of the sector’s largest companies, climbed 1.2% to 151.80. Notable advancers included XAU components Eldorado Gold (EGO) and Harmony Gold (HMY), which jumped by 6.0% to $11.02 and by 3.9% to $10.13 per share.
The broader equity markets fared even better, as the S&P 500 Index rose by 1.9% to 1,385.97 – its best closing level since May 3rd of this year.
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