Gold Climbs Higher as the War Drum Beats Louder

GOLD

On Tuesday, gold (NYSEARCA:GLD) futures for December — the most active contract — increased $15.90 to close at $1,412 per ounce, while silver (NYSEARCA:SLV) futures jumped 92 cents to finish at $24.43.

Both precious metals received buying support. President Barack Obama is currently seeking authorization from Congress before attacking Syria, and early signs are indicating that he has support from key Republicans.

After a meeting with the president, House Speaker John Boehner said, “The use of these weapons has to be responded to, and only the U.S. has the capability. I’m going to support the president’s call for action and I believe my colleagues should support this call for action.”