Gold futures traded 0.2% higher Wednesday, with a final bid of $1,604 per ounce, according to CME Group data. Gold prices reached a high of $1,604.40 and a low of $1,590. Gold bullion finished up at $1,608 per ounce for Wednesday’s trading session in London, according to BullionVault.
“The market is disappointed that [gold] was not able to revisit the July high of $1,633,” according to the the latest technical analysis note from bullion bank Scotia Mocatta.
Silver futures were 0.2% higher Wednesday, with a final bid of $27.81 per ounce. Wednesday’s high for silver reached $27.96, and the low was $27.43.
Gold and silver funds saw slight gains Wednesday.
- The SPDR Gold Trust (NYSE:GLD) was up 0.3%.
- The iShares Gold Trust (NYSE:IAU) was 0.2% higher.
- The iShares Silver Trust (NYSE:SLV) showed marginal gains.
Gold and silver mining ETFs also experienced gains.
- The Market Vectors Gold Miners ETF (NYSE:GDX) ticked up 0.5%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) finished 0.4% higher.
- The Global X Silver Miners ETF (NYSE:SIL) rose 0.4%.
Most gold mining shares moved mostly north Wednesday, with NovaGold Resources (AMEX:NG) leading the way.
- Agnico-Eagle Mines (NYSE:AEM) was down 1.3%.
- Barrick Gold (NYSE:ABX) finished 1.6% higher.
- Eldorado Gold (NYSE:EGO) edged up 1.3%.
- Goldcorp (NYSE:GG) dipped 0.2%.
- Kinross Gold (NYSE:KGC) was 1.4% higher.
- Newmont Mining (NYSE:NEM) finished 0.6% higher.
- NovaGold Resources jumped 4.7%.
- Yamana Gold (NYSE:AUY) finished up 0.2%.
Most silver mining shares also brought in gains. Pan American Silver (NASDAQ:PAAS) bucked the trend.
- Coeur d’Alene Mines (NYSE:CDE) rose 1.3%.
- Hecla Mining (NYSE:HL) climbed 0.7%.
- Pan American Silver was 0.2% lower.
- Silver Wheaton (NYSE:SLW) finished 1% higher.
- Silver Standard Resources (NASDAQ:SSRI) climbed 1.3%.
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.