“Increased or decreased prospects of (central bank) intervention seem to be the rationale for any move in precious metals at the moment,” a London analyst told Bullion Vault in a statement.
Gold futures about traded 1% lower Thursday, with a final bid of $1,587.80 per ounce, according to CME Group data. Gold prices reached a high of $1,615.20 and a low of $1,585.90. Gold bullion finished lower at $1,592 per ounce for Thursday’s trading session in London.
Silver futures traded 2% lower Thursday, with a final bid of $26.99 per ounce. Thursday’s high for silver reached $27.78, and the low was $26.88.
Gold and silver trusts finished down Thursday.
- The SPDR Gold Trust (NYSE:GLD) finished down 0.7%.
- The iShares Gold Trust (NYSE:IAU) was 0.7% lower.
- The iShares Silver Trust (NYSE:SLV) slipped 0.8%.
Gold and silver mining ETFs showed losses Thursday.
- The Market Vectors Gold Miners ETF (NYSE:GDX) fell 0.5%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) finished 0.4% lower.
- The Global X Silver Miners ETF (NYSE:SIL) was 0.7% lower.
Gold mining shares showed varying losses Thursday, with Kinross Gold (NYSE:KGC) taking the worst of it for the second day straight. The Canadian-based mining company fired CEO Tye Burt yesterday and replaced him with J. Paul Rollinson.
- Agnico-Eagle Mines (NYSE:AEM) was down 1.3%.
- Barrick Gold (NYSE:ABX) finished 1.1% lower.
- Eldorado Gold (NYSE:EGO) dipped 1.5%.
- Goldcorp (NYSE:GG) finished 0.1% lower.
- Kinross Gold dove 5.9%.
- Newmont Mining (NYSE:NEM) lost 0.1%.
- NovaGold Resources (AMEX:NG) gained 0.5%.
- Yamana Gold (NYSE:AUY) finished down 0.6%.
Silver mining shares brought in varying results Thursday.
- Coeur d’Alene Mines (NYSE:CDE) was up 1.3%.
- Hecla Mining (NYSE:HL) finished flat.
- Pan American Silver (NASDAQ:PAAS) was 1.4% lower.
- Silver Wheaton (NYSE:SLW) dropped 0.2%.
- Silver Standard Resources (NASDAQ:SSRI) climbed 1.2%.
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.