COMMODITIES UPDATE: Gold Slips 0.3% After Big Run Up Thursday

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Gold futures contracts slipped some early today after a more than $40 an ounce run up Thursday on the heels of U.S. lawmakers' last-minute deal to increase the country's debt ceiling, thus averting a technical default, but adding to the nation's long-term debt.

Gold for December delivery (GCZ3.NYM) is down 0.3% or $3.40 to $1,319.70 today.

It rose $40.70, or 3.2%, to settle at $1,323 an ounce on the Comex division of the New York Mercantile Exchange on Thursday, at the highest level in more than a week, with their biggest weekly percentage and dollar gain since Sept. 19, according to market data .


December silver (SIZ3.NYM) is down 0.4%, or 8 cents to $21.87.

In exchange traded fund activity, SPDR Gold Shares ( GLD ) is up $3.85 or 3% to $127.39, while iShares Silver Trust ( SLV ) is up 53 cents, or 2.6%, to $21.03.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: GLD , SLV

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