NEW YORK (Dow Jones)--Gold futures rallied and silver hit its highest point in nearly 31-years Friday as jitters about rising oil prices amid Middle East tensions boosted the metals as refuge investments.
The most actively traded gold contract, for April delivery, rose $12.20, or 0.9%, to settle at $1,428.60 a troy ounce on the Comex division of the New York Mercantile Exchange. Nearby March gold also gained 0.9%, to $1,428.20.
Meanwhile, the most actively traded silver contract, for May delivery, hit $35.405 an ounce, its highest intraday price since March 7, 1980. The contract settled up 2.9%, or $1, at $35.327 an ounce.
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