Gold futures about traded 0.4% higher Monday, with a final bid of $1,613.30 per ounce, according to CME Group data. Gold prices reached a high of $1,614.80 and a low of $1,603.30. Gold bullion finished at $1,615 per ounce for Monday’s trading session in London, according to BullionVault.
“There is still room for (Federal Reserve) easing if it is required,” Mitsui Precious Metals analyst David Jollie said Monday. “There is still a perception that it may be required … the question of when that is, with the US elections approaching, makes it difficult to be super bullish on gold.”
Silver futures traded 0.2% higher Monday, with a final bid of $27.86 per ounce. Monday’s high for silver reached $27.95, and the low was $27.57.
Gold and silver trusts finished up Monday.
- The SPDR Gold Trust (NYSE:GLD) finished up 0.5%.
- The iShares Gold Trust (NYSE:IAU) was 0.5% higher.
- The iShares Silver Trust (NYSE:SLV) gained 0.6%.
Gold and silver mining ETFs jumped Monday.
- The Market Vectors Gold Miners ETF (NYSE:GDX) rose 2%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) finished 2.5% higher.
- The Global X Silver Miners ETF (NYSE:SIL) climbed 2.8%.
Gold mining shares showed varying gains Monday.
- Agnico-Eagle Mines (NYSE:AEM) was up 2.7%.
- Barrick Gold (NYSE:ABX) finished 1.9% higher.
- Eldorado Gold (NYSE:EGO) rose 2.2%.
- Goldcorp (NYSE:GG) climbed 0.9%.
- Kinross Gold (NYSE:KGC) rose 0.4%.
- Newmont Mining (NYSE:NEM) finished 3.3% higher.
- NovaGold Resources (AMEX:NG) gained 0.5%.
- Yamana Gold (NYSE:AUY) finished up 2.3%.
Silver mining shares saw sharp gains Monday, with Coeur d’Alene Mines (NYSE:CDE) the biggest winner.
- Coeur d’Alene Mines soared 8.1%.
- Hecla Mining (NYSE:HL) finished up 3.3%.
- Pan American Silver (NASDAQ:PAAS) was 4.1% higher.
- Silver Wheaton (NYSE:SLW) jumped 2.6%.
- Silver Standard Resources (NASDAQ:SSRI) climbed 4.8%.
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.