Gold, Silver Receive Lift From the Ditch

by Angela Nazworth | July 19, 2012 4:48 pm

Gold, Silver Receive Lift From the Ditch

PreciousMetalsRecap Gold, Silver Receive Lift From the Ditch[1]Gold futures traded 0.6% higher Thursday with a final bid of $1,580.10 per ounce, according to CME Group data[2]. 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[3].

“(Gold) Trading has been quite quiet and dull,” one London market-maker said in a statement[4] this morning. “Gold is caught into the summer doldrums, and I think the Olympic Games will take their toll on the trading flows.”

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[5]) stayed still.

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

Several gold miners showed varying gains Thursday, with Goldcorp (NYSE:GG[11]) among the best performers. NovaGold Resources (AMEX:NG[12]) and Yamana Gold (NYSE:AUY[13]) went their own way, trading lower Thursday.

Silver mining shares were broadly higher Thursday.

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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. CME Group data: http://www.cmegroup.com/trading/metals/precious/gold_quotes_settlements_futures.html
  3. BullionVault: http://www.bullionvault.com/
  4. said in a statement: http://goldnews.bullionvault.com/buy-gold-071920125
  5. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  6. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  7. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  10. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  11. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  12. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  13. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  14. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  15. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  16. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  17. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  18. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  19. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  20. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  21. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  22. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  23. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  24. BullionVault: http://www.bullionvault.com

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