Flat Friday for Gold, Silver Inches Lower
by Angela Nazworth | August 17, 2012 5:12 pm
[1]Gold futures were flat Friday, with a final bid of $1,616.70 per ounce, according to CME Group data[2]. Gold prices reached a high of $1,620 and a low of $1,614.10. Gold bullion traded at $1,619 per ounce for Friday’s trading session in London, according to BullionVault[3].
“The market is still moving on changing expectations of central bank actions,” ANZ Senior Commodity Strategist Nick Trevethan said[4]. “[Gold in dollars] is so far unwilling to push prices out of the $1590 to $1630 range.”
Silver futures were 0.7% lower Friday, with a final bid of $28 per ounce. Friday’s high for silver reached $28.29, and the low was $27.96.
Gold funds ticked up Friday, while iShares Silver Trust (NYSE:SLV[5]) dipped.
- The SPDR Gold Trust (NYSE:GLD[6]) was up 0.2%.
- The iShares Gold Trust (NYSE:IAU[7]) also was 0.2% higher.
- The iShares Silver Trust slid 0.5%.
Gold and silver mining ETFs were mixed.
- The Market Vectors Gold Miners ETF (NYSE:GDX[8]) climbed 0.7%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[9]) finished 0.1% higher.
- The Global X Silver Miners ETF (NYSE:SIL[10]) stumbled 0.2% lower.
Most gold mining shares suffered losses Friday.
- Agnico-Eagle Mines (NYSE:AEM[11]) was up 0.9%.
- Barrick Gold (NYSE:ABX[12]) finished 0.3% lower.
- Eldorado Gold (NYSE:EGO[13]) dipped 0.7%.
- Goldcorp (NYSE:GG[14]) climbed 0.1%.
- Kinross Gold (NYSE:KGC[15]) was 0.7% lower.
- Newmont Mining (NYSE:NEM[16]) fell 0.9%.
- NovaGold Resources (AMEX:NG[17]) finished down 0.8%.
- Yamana Gold (NYSE:AUY[18]) dipped 0.7%.
Silver mining shares were mixed.
- Coeur d’Alene Mines (NYSE:CDE[19]) rose 0.1%.
- Hecla Mining (NYSE:HL[20]) was flat.
- Pan American Silver (NASDAQ:PAAS[21]) dipped 0.3%.
- Silver Wheaton (NYSE:SLW[22]) finished 0.8% higher.
- Silver StandardResources (NASDAQ:SSRI[23]) fell 2.5%, despite beating Street estimates with its second-quarter earnings.
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/
- Nick Trevethan said: http://goldnews.bullionvault.com/gold-bullion-081720121
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- 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/2012/08/flat-friday-for-gold-silver-inches-lower/