Gold, Silver Inch Up Wednesday

by Angela Nazworth | August 15, 2012 4:30 pm

Gold Silver GLD IAU SLV[1]Gold futures traded 0.2% higher Wednesday, with a final bid of $1,604 per ounce, according to CME Group data[2]. 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[3].

“The market is disappointed that [gold] was not able to revisit the July high of $1,633,” according to the the latest technical analysis[4] 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. 

Gold and silver mining ETFs also experienced gains.

Most gold mining shares moved mostly north Wednesday, with NovaGold Resources (AMEX:NG[11]) leading the way.

Most silver mining shares also brought in gains. Pan American Silver (NASDAQ:PAAS[19]) bucked the trend.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[24] contributed to this report.

Endnotes:

  1. [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. CME Group data: http://www.cmegroup.com/trading/metals/precious/gold_quotes_settlements_futures.html
  3. BullionVault: http://www.bullionvault.com/
  4. according to the the latest technical analysis: http://goldnews.bullionvault.com/gold-price-081520121
  5. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  6. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  7. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. :GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=:GDXJ
  10. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  11. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  12. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  13. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  14. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  15. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  16. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  17. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  18. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  19. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  20. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  21. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  22. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  23. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  24. BullionVault: http://www.bullionvault.com

Source URL: https://investorplace.com/2012/08/gold-silver-inch-up-wednesday/