Market Insider

The ‘Sneaky Bid’ in Gold and Silver

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Technical buying, and a "risk on" day in stocks and the euro, helped push gold and silver higher Friday.

Anthony Bradshaw | Getty Images

Gold was up more than 2.2 percent for the week, as the dollar wobbled against the euro. The euro, at a three week high, was up 1.8 percent for the week against the greenback.

Also in the background is an improving view of China's economy. Chinese manufacturing data Thursday showed expansion for the first time in 13 months.

The HSBC preliminary Chinese purchasing managers' index for November was at 50.4, up from October's 49.5.

Earlier Friday, German business confidence was reported to be improving, after six months of declines.