Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold climbed another 0.2%, building on yesterday's 1.9% gain, as investors shed global risk and emerging-market currencies. The Global Dow fell 1.9% while the Dow and S&P 500 both lost more than 2%, the most in a day since June, en route to their worst week since 2012.

Emerging market currencies fell by the most in five years as traders sought out safer havens after digesting yesterday's weak manufacturing data from China and the U.S. Treasuries surged for the second day and gold closed the week 1% higher for a fifth-straight weekly rise, its longest winning streak in 28 months. The yellow metal has now gained 5.2% since late December.

The other precious metals did not fare as well. Silver dropped 1.2% today for a weekly loss of 2.7%. Platinum plunged 2.5% to close with week down 1.8%, while sister-metal palladium lost 1.5% for the day and 1.8% for the week.

At the Comex close: February gold climbed $2 to $1,264.30; March silver dropped 24 cents to $19.76; April platinum shed $34.60 to $1,428.60; and March palladium shed $11.10 to $734.80 an ounce.