Gold futures were were up 0.2% Monday, with a final bid of $1,620.30 per ounce, according to CME Group data. Gold prices reached a high of $1,621.50 and a low of $1,615.30. Gold bullion traded at $1,623 per ounce for Monday’s session in London, according to BullionVault.
Gold bullion transferred between major bullion banks fell 6.4% in July compared to a month earlier, according to the London Bullion Market Association. Year-on-year, the fall was 9%, although the number of individual transfers rose by nearly a third.
Silver futures also were up 0.2% Monday, with a final bid of $28.59 per ounce. Monday’s high for silver reached $28.74, and the low was $27.86.
Gold and silver funds moved up Monday, with iShares Silver Trust (NYSE:SLV) leading the way.
- The SPDR Gold Trust (NYSE:GLD) was up 0.3%.
- The iShares Gold Trust (NYSE:IAU) also was 0.3% higher.
- The iShares Silver Trust jumped 2.6%.
Gold and silver mining ETFs climbed as well.
- The Market Vectors Gold Miners ETF (NYSE:GDX) lifted by 0.6%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) finished 0.8% higher.
- The Global X Silver Miners ETF (NYSE:SIL) rose 1.7%.
Most gold mining shares headed north Monday, with NovaGold Resources (AMEX:NG) bucking the trend by suffering steep losses.
- Agnico-Eagle Mines (NYSE:AEM) was up 1%.
- Barrick Gold (NYSE:ABX) finished 1.3% higher.
- Eldorado Gold (NYSE:EGO) climbed 0.9%.
- Goldcorp (NYSE:GG) dipped 0.2%.
- Kinross Gold (NYSE:KGC) was 1.1% higher.
- Newmont Mining (NYSE:NEM) rose 1.6%.
- NovaGold Resources finished down 2.3%.
- Yamana Gold (NYSE:AUY) ticked up 0.3%.
Silver mining shares had a good day, with Silver Standard Resources (NASDAQ:SSRI) reporting the biggest gains.
- Coeur d’Alene Mines (NYSE:CDE) rose 1.8%.
- Hecla Mining (NYSE:HL) climbed 1.6%.
- Pan American Silver (NASDAQ:PAAS) rose 2.9%.
- Silver Wheaton (NYSE:SLW) finished 1.5% higher (for more, see “The Smart Silver Play: Silver Wheaton”)
- Silver Standard Resources jumped 5.9%.
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.