Gold, Silver Receive Lift From the Ditch

Most miners also see gains in Thursday trading

   

Gold, Silver Receive Lift From the Ditch

PreciousMetalsRecap Gold, Silver Receive Lift From the DitchGold futures traded 0.6% higher Thursday with a final bid of $1,580.10 per ounce, according to CME Group data. Gold reached a high of $1,591.50 and a low of $1,572.10. Gold bullion ended at $1,584 per ounce for Thursday’s trading session in London, according to BullionVault.

“(Gold) Trading has been quite quiet and dull,” one London market-maker said in a statement this morning. “Gold is caught into the summer doldrums, and I think the Olympic Games will take their toll on the trading flows.”

gold prices behind bars 630 200x200 Gold, Silver Receive Lift From the Ditch
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Silver futures were up about 0.5% with a final bid of $27.20 per ounce. Thursday’s high for silver prices reached $27.49, and the low was $27.12.

Gold trusts rose slightly Thursday, while the iShares Silver Trust (NYSE:SLV) stayed still.

  • The SPDR Gold Trust (NYSE:GLD) was up about 0.2%.
  • The iShares Gold Trust (NYSE:IAU) was about 0.1% higher.
  • The iShares Silver Trust was flat.

Gold and silver mining ETFs showed decent gains across the board Thursday.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) was up about 1.1%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) climbed about 1.5%.
  • The Global X Silver Miners ETF (NYSE:SIL) was about 1.3% higher.

Several gold miners showed varying gains Thursday, with Goldcorp (NYSE:GG) among the best performers. NovaGold Resources (AMEX:NG) and Yamana Gold (NYSE:AUY) went their own way, trading lower Thursday.

  • Agnico-Eagle Mines (NYSE:AEM) rose about 1.6%.
  • Barrick Gold (NYSE:ABX) was 1.3% higher.
  • Eldorado Gold (NYSE:EGO) showed gains of around 1.1%.
  • Goldcorp jumped about 2.3%.
  • Kinross Gold (NYSE:KGC) was about 1.9% higher.
  • Newmont Mining (NYSE:NEM) rose about 1.1%.
  • NovaGold Resources was 0.3% lower.
  • Yamana Gold was down about 1.3%.

Silver mining shares were broadly higher Thursday.

  • Coeur d’Alene Mines (NYSE:CDE) was up about 2.2%.
  • Hecla Mining (NYSE:HL) rose about 1.2%.
  • Pan American Silver (NASDAQ:PAAS) was around 0.6% higher.
  • Silver Wheaton (NYSE:SLW) climbed about 1.4%.
  • Silver Standard Resources (NASDAQ:SSRI) was up about 1.6%.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.


Article printed from InvestorPlace Media, http://investorplace.com/2012/07/gold-silver-receive-lift-from-the-ditch/.

©2014 InvestorPlace Media, LLC

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