Gold Futures Post 2.8% Weekly Gain Silver Surges 3.8%

COMEX gold futures for December 2011 commitment avant-garde $14.50, or 0.9%, to achieve at $1,683.00 per ounce. For the week, gold futures accomplished college by 2.8% and acquaint their aboriginal back-to-back account assets back mid-August.

Silver futures outperformed gold, both on Friday and for the week. COMEX argent for December 2011 commitment jumped $0.51, or 1.6%, to $32.17 per ounce today, and accomplished the five-day amplitude with a 3.8% gain. In accomplishing so, argent alternate to absolute area on a year-to-date basis, by 4.0%. Gold has decidedly outperformed argent in 2011, however, with an 18.4% climb.

Friday’s backbone in gold and argent was accompanied by bashful weakness in the U.S. dollar adjoin a bassinet of currencies. The U.S. Dollar Index (DXY) slid 0.5% to 76.642 this afternoon, while the euro rose 0.7% to 1.3879 adjoin the greenback.

Other adored metals acquaint account assets as well, with platinum and aegis advancing 4.1% and 5.9%, respectively.