Gold Remains Quiet as John Kerry Downplays Military Action in Syria

Gold

On Monday, gold (NYSEARCA:GLD) futures for December — the most active contract — edged 20 cents higher to close at $1,386.70 per ounce, while silver (NYSEARCA:SLV) futures declined 17 cents to finish at $23.72.

Both precious metals were relatively stagnant as Washington D.C. debates taking action against Syria. According to a survey conducted by USA Today, only 22 senators and 22 House members are willing to publicly lend support to the use of military action in response to chemical weapons being used in Syria. In fact, 19 senators and 130 House members say they oppose military strikes.

Adding to the situation, U.S. Secretary of State John Kerry tried to promote military action in Syria by claiming any strike will be “unbelievably small.” During a press conference in London, Kerry explained, “We’re not going to war. We will not have people at risk in that way.”