Gold, Silver Futures Edge Lower Tuesday

by Angela Nazworth | August 28, 2012 4:45 pm

Gold, Silver Futures Edge Lower Tuesday

Gold traded 0.4% lower Tuesday, with a final bid of $1,665.90 per ounce, according to CME Group data[1]. Gold prices reached a high of $1,670.90 and a low of $1,656. Gold bullion finished at $1,670 per ounce for Tuesday’s session in London[2].

“There’s a lot of talk of gold coming back as a safe-haven asset,”  Bernard Sin, head of currency and metal trading at Swiss refiner MKS, told BullionVault[3]. “As long as the QE3 discussion is on the table, gold will continue to trade higher.”

Silver futures dipped 0.5% Tuesday, with a final bid of $30.88 per ounce. Tuesday’s high for silver reached $30.98, and the low was $30.49.

Gold and silver funds traded higher on Tuesday.

Gold and silver mining ETFs suffered losses with the Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[7]) faring the worst.

Gold mining shares were mixed Tuesday.

Silver mining shares also were mixed Tuesday.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

Endnotes:
  1. CME Group data: http://www.cmegroup.com/trading/metals/precious/gold_quotes_settlements_futures.html
  2. session in London: http://www.bullionvault.com/
  3. BullionVault: http://goldnews.bullionvault.com/gold-prices-082820121
  4. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  5. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  6. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  7. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  10. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  11. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  12. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  13. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  14. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  15. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  16. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  17. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  18. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  19. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  20. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  21. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  22. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  23. BullionVault: http://www.bullionvault.com

Source URL: http://investorplace.com/2012/08/gold-silver-futures-edge-lower-tuesday/
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