Gold and Silver’s Upswing Continues Tuesday

by Angela Nazworth | September 4, 2012 4:20 pm

Gold and Silver’s Upswing Continues Tuesday

PreciousMetalsRecap 150x150 Gold and Silver's Upswing Continues Tuesday[1]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[2]. 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[3].

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[4]. “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[5]) 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[24] contributed to this report.

Endnotes:
  1. [Image]: http://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. according to BullionVault: http://www.bullionvault.com/
  4. according to a commodities note from Commerzbank: http://goldnews.bullionvault.com/gold-bullion-090420121
  5. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  6. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  7. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  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. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  12. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  13. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  14. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  15. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  16. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  17. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  18. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  19. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  20. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  21. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  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

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