Gold, Silver Barely Move on Friday
by Angela Nazworth | August 10, 2012 5:00 pm
[1]Gold futures about traded 0.1% higher Friday, with a final bid of $1,620 per ounce, according to CME Group data[2]. Gold prices reached a high of $1,626.30 and a low of $1,617.30. Gold bullion finished up at $1,619 per ounce for Friday’s trading session in London, according to BullionVault[3].
“Bullion looks set to mark time until the Federal Reserve symposium [at Jackson Hole, Wyo.] at the end of the month, and to see how the [European Central Bank] intends to address the crisis in Europe,” ANZ senior commodities strategist Nick Trevethan told BullionVault[4].
Silver futures were down 0.1% Friday , with a final bid of $28.06 per ounce. Friday’s high for silver reached $28.32, and the low was $27.53.
Gold trusts brought in slight gains Friday, but the iShares Silver Trust (NYSE:SLV[5]) dipped a tad.
- The SPDR Gold Trust (NYSE:GLD[6]) was up 0.2%.
- The iShares Gold Trust (NYSE:IAU[7]) was 0.1% higher.
- The iShares Silver Trust dropped 0.1%.
Gold and silver mining ETFs also showed varying higher results.
- The Market Vectors Gold Miners ETF (NYSE:GDX[8]) climbed 0.7%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[9]) finished 0.2% higher.
- The Global X Silver Miners ETF (NYSE:SIL[10]) fell 0.3%.
Gold mining shares brought in healthy gains Friday with NovaGold Resources (AMEX:NG[11]) leading the way.
- Agnico-Eagle Mines (NYSE:AEM[12]) was up 0.1%.
- Barrick Gold (NYSE:ABX[13]) finished 1.3% higher.
- Eldorado Gold (NYSE:EGO[14]) climbed 0.8%.
- Goldcorp (NYSE:GG[15]) rose 0.5%.
- Kinross Gold (NYSE:KGC[16]) was 2.2% higher.
- Newmont Mining (NYSE:NEM[17]) finished 0.6% higher.
- NovaGold Resources gained 3.6%.
- Yamana Gold (NYSE:AUY[18]) finished up 0.3%.
Silver mining shares were mixed on Friday. Silver Standard Resources (NASDAQ:SSRI[19]) fared worst.
- Coeur d’Alene Mines (NYSE:CDE[20]) jumped 2.4%.
- Hecla Mining (NYSE:HL[21]) dipped 0.4%.
- Pan American Silver (NASDAQ:PAAS[22]) was 0.3% lower.
- Silver Wheaton (NYSE:SLW[23]) rose 0.4% amid news of decent second-quarter earnings.
- Silver Standard Resources (NASDAQ:SSRI[19]) plummeted 3.4% even though its second-quarter results narrowly beat analysts estimates.
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:
- [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 told BullionVault: http://goldnews.bullionvault.com/gold-prices-081020121
- 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
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- 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
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
- 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
- BullionVault: http://www.bullionvault.com
Source URL: https://investorplace.com/2012/08/gold-silver-barely-move-on-friday/