by Angela Nazworth | September 4, 2012 4:20 pm
Gold kept the momentum from last week’s advances, trading 0.5% higher Tuesday, with a final bid of $1,693.60 per ounce, according to CME Group data. Gold prices reached a high of $1,699 and a low of $1,685.10. Gold bullion finished Tuesday at $1,698 per ounce in London, according to BullionVault.
Silver futures spiked 3% Tuesday, with a final bid of $32.37 per ounce. Tuesday’s high for silver reached $32.37, and the low was $31.54.
“Precious metals are continuing their upswing,” according to a commodities note from Commerzbank. “Silver has made even stronger gains than gold … underpinned by speculative financial investors.”
Gold and silver funds brought in gains Tuesday, with the iShares Silver Trust (NYSE:SLV) faring best.
Gold and silver mining ETFs were mixed Tuesday.
Gold mining shares were mixed.
Silver mining shares reeled in healthy gains Tuesday.
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.
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