Gold/Silver Roundup 10/14/2013

Gold opened near $1271/oz, rising to nearly $1290 by midday before steadily declining to near $1271/oz. This is likely due to continuing concern over Washington’s failure to resolve the budget impasse, and a looming default. Declining gold derivatives and news of increased gold production in China may have served to limit the rally.

Live 24 hours gold chart [Kitco Inc.]

Silver opened near $21.11/oz, rallying by mid-day to near $21.60 before declining to near $21.18/oz. As with gold, rallying under concerns over failure to resolve the budget crisis. Difficult to say why the rally was limited for silver.

Live 24 hours silver chart [ Kitco Inc. ]

(source: http://www.kitco.com)

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