Gold and silver futures rose, capping the biggest weekly rallies in four months, as the outlook from the Federal Reserve for low U.S. interest rates boosted demand for the metals as hedges against inflation.
Gold fell in New York, capping a second straight weekly loss, as moves by China to fight inflation and slow growth eroded demand for precious metals and raw materials.
Gold climbed to a record for the third time this week as investors stepped up demand for a haven from financial turmoil. Silver futures rose to the highest closing price since 1980.
"There was some Chinese stimulus news, and any stimulus is good for base-metal prices."
- Adam Klopfenstein on Oct 17, 2014