by Angela Nazworth | August 30, 2012 4:46 pm
Gold traded 0.4% lower Thursday, with a final bid of $1,653.50 per ounce, according to CME Group data. Gold prices reached a high of $1,662 and a low of $1,650.70. Gold bullion finished at $1,660 per ounce for Thursday’s session in London.
“Bullion trading is still quite light with the market awaiting (Friday’s) Jackson Hole symposium,” one London market-maker told BullionVault.
Commerzbank’s commodities team in Frankfurt, Germany issued a statement echoing similar sentiments about precious metals.
“Players on the precious metal marketas s already appear to be exercising restraint ahead of the annual (central-banking) conference this weekend,” they said.
Silver futures dipped 1.5% Thursday, with a final bid of $30.84 per ounce. Thursday’s high for silver reached $30.89, and the low was $30.26.
Gold and silver funds suffered losses on Thursday.
Gold and silver mining ETFs suffered losses with the Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) faring the worst.
Most gold mining shares reported losses Thursday.
Silver mining shares fell Thursday.
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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