Gold, Silver Finish Friday With Slight Gains
by Angela Nazworth | July 20, 2012 4:40 pm
[1]Gold futures about traded 0.2% higher Friday with a final bid of $1,582.80 per ounce, according to CME Group data[2]. Gold reached a high of $1,586.70 and a low of $1,572.60. Gold bullion ended at $1,586 per ounce for Friday’s trading session in London, according to BullionVault[3].
“Gold appears to have lost its glimmer … as it languishes in the lower reaches of a $1,555-$1,635 range,” said Tim Riddell, ANZ Bank head of global markets research[4], Asia. “The near-term inability to regain levels above $1,600 will keep the bias towards retesting the base of this range.”
Silver futures were up about 0.3% with a final bid of $27.28 per ounce. Friday’s high for silver prices reached $27.36, and the low was $27.19.
Gold and silver trusts rose slightly Friday.
- The SPDR Gold Trust (NYSE:GLD[5]) was up about 0.2%.
- The iShares Gold Trust (NYSE:IAU[6]) gained 0.2%.
- The iShares Silver Trust (NYSE:SLV[7]) also was up 0.2%.
Gold and silver mining ETFs showed varying results Friday.
- The Market Vectors Gold Miners ETF (NYSE:GDX[8]) was up about 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[9]) dipped about 1%.
- The Global X Silver Miners ETF (NYSE:SIL[10]) was about 0.9% higher.
Gold miners showed varying results Friday.
- Agnico-Eagle Mines (NYSE:AEM[11]) rose about 0.5%.
- Barrick Gold (NYSE:ABX[12]) was 0.6% lower.
- Eldorado Gold (NYSE:EGO[13]) showed losses of around 1.2%.
- Goldcorp (NYSE:GG[14]) climbed about 1.1%.
- Kinross Gold (NYSE:KGC[15]) was about 0.1% higher.
- Newmont Mining (NYSE:NEM[16]) was flat.
- NovaGold Resources (AMEX:NG[17]) was 2.9% lower.
- Yamana Gold (NYSE:AUY[18]) was up about 1.5%.
Silver mining shares were mixed Friday, too.
- Coeur d’Alene Mines (NYSE:CDE[19]) was up about 2.2%.
- Hecla Mining (NYSE:HL[20]) rose about 0.5%.
- Pan American Silver (NASDAQ:PAAS[21]) was around 0.4% lower.
- Silver Wheaton (NYSE:SLW[22]) climbed about 0.6%.
- Silver Standard Resources (NASDAQ:SSRI[23]) was down about 0.4%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[24] contributed to this report.
- [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
- CME Group data: http://www.cmegroup.com/trading/metals/precious/gold_quotes_settlements_futures.html
- BullionVault: http://www.bullionvault.com/
- Tim Riddell, ANZ Bank head of global markets research: http://goldnews.bullionvault.com/gold-price-072020123
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
- GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
- SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
- GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
- SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
- BullionVault: http://www.bullionvault.com
Source URL: https://investorplace.com/2012/07/gold-silver-finish-friday-with-slight-gains/