Gold
Gold edged higher on Friday, reversing earlier losses after the Catalonian parliament's independence declaration from Spain led investors to seek safety from political upheaval. Spot gold was up $1,273.35 an ounce, heading for its second consecutive weekly decline. Gold had earlier dropped to a three-week low of $1,263.35.
Catalonia is a small microcosm of the total European situation. But what it represents is the idea of an unstable European Union. Gold went up on the back of the Catalonia independence, but it's not going to last long because the Madrid government was not tough enough on Catalonia's declaration of independence.

Silver
Silver closed up at $16.77 per ounce after earlier dropping to $16.60, posting losses for the second consecutive week. Despite of the gains, the white metal is still losing steam as it crossed below the key support of $16.65 during the session. It is expected to trade lower in near term with support at $16.60.

 
Dealing Room, ICBC Beijing Branch
Huang Han

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