On Friday, gold (NYSEARCA:GLD) futures for December delivery increased $2.60 to settle at $1,622.80 per ounce, while silver (NYSEARCA:SLV) futures edged 4 cents lower to close at $28.06. For the week, gold gained $13.50, while silver ticked 26 cents higher.

Both precious metals remained range-bound as China, one of the world’s largest buyers of commodities, released July trade figures that showed exports increased only 1 percent from a year earlier. Import growth was also dismal, gaining 4.7 percent. The nation’s exports to the European Union in July plunged 16 percent, further adding to global slowdown fears.

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“The slowdown under way in China is already rippling across Asia, having a particularly large impact on commodity exporters and countries that export into China’s supply chains,” said Alistair Thornton, China economist at IHS Global Insight, according to WSJ.

By the end of the trading day, the SPDR Gold Trust (NYSEARCA:GLD) finished 0.12 percent higher, while the iShares Silver Trust (NYSEARCA:SLV) closed 0.11 percent lower. Gold miners (NYSEARCA:GDX) such as Barrick Gold (NYSE:ABX) and Newmont Mining (NYSE:NEM) increased 1.32 percent and 0.59 percent, respectively. Meanwhile, Silver Wheaton (NYSE:SLW) and Endeavour Silver (NYSE:EXK) closed 0.36 percent and 2.28 percent higher, respectively.

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Disclosure: Long EXK, AG, HL, PHYS