by Angela Nazworth | August 21, 2012 5:03 pm
Gold futures were up 1.2% Tuesday, with a final bid of $1,640.10 per ounce, according to CME Group data. Gold prices reached a high of $1,640.40 and a low of $1,618.40. Gold bullion traded at 1% higher at $1,640 per ounce for Tuesday’s session in London, according to BullionVault.
Silver futures climbed 2.9% Tuesday, with a final bid of $29.43 per ounce. Tuesday’s high for silver reached $29.46, and the low was $28.61.
Wholesale market prices to buy silver hit a two-month high Tuesday morning in London.
According to the latest technical analysis note from bullion bank Scotia Mocatta, “This changes [silver’s] posture to bullish.”
Gold and silver funds also moved up Tuesday.
Gold and silver mining ETFs jumped as well, with the Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) leading the way.
And most gold mining shares headed north Tuesday, with Eldorado Gold (NYSE:EGO) leading the way.
Silver mining shares had a good day, with Silver Standard Resources (NASDAQ:SSRI) reporting the biggest gains for the second day straight.
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.
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