Gold climbs near 2-month high; silver surges

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Associated Press

Posted on August 16, 2013 at 3:02 PM

Updated Friday, Aug 16 at 3:03 PM

Gold is settling at its highest price in almost two months as turmoil in the Middle East and elsewhere boosts demand for the precious metal.

Gold for December delivery rose $10.10, or 0.7 percent, to settle at $1,371.00 an ounce on Friday. That's its highest daily settlement price since June 19, according to the data provider FactSet.

Silver for September delivery climbed 38.7 cents, or 1.7 percent, to $23.322 an ounce.

Other metals were mixed. Platinum for October delivery fell $4.70 to $1,527.60 an ounce.

In the market for grains and crops, prices for corn and soybeans slipped slightly, while wheat was unchanged. Many crops remained higher for the week following reports that farmers are leaving more land fallow. Forecasts for dry weather also pushed up prices.

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