Gold moved slightly lower on Friday, heading for an 11.5% gain for the third quarter — its best quarterly showing in two years — as oil prices moved up and investors regained confidence over European austerity measures.
Gold futures for December delivery fell to $1,773.90 on Friday, according to CME Group. Gold traded as high as $1,785.90 and as low as $1,769.50. Gold bullion closed in London at $1,774, according to BullionVault.
Silver futures for December delivery also slipped, closing down at $34.57 per ounce. Friday’s high for silver was $34.92, while the low was $34.39.
Gold and silver funds moved lower in Friday trading.
- The SPDR Gold Trust (NYSE:GLD) slipped 0.3%.
- The iShares Gold Trust (NYSE:IAU) edged down 0.2%.
- The iShares Silver Trust (NYSE:SLV) declined 0.3%.
Gold and silver mining ETFs also slipped during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX) dipped 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) fell 1%.
- The Global X Silver Miners ETF (NYSE:SIL) slid 0.6%.
Gold mining shares mostly fell on Friday, with NovaGold Resources (AMEX:NG) falling the hardest.
- Agnico-Eagle Mines (NYSE:AEM) moved up 0.2%
- Barrick Gold (NYSE:ABX) slipped 0.2%.
- Eldorado Gold (NYSE:EGO) rose 0.7%.
- Goldcorp (NYSE:GG) fell 1.2%.
- Kinross Gold (NYSE:KGC) increased 0.7%.
- Newmont Mining (NYSE:NEM) dropped 0.9%.
- NovaGold Resources moved down 1.4%.
- Yamana Gold (NYSE:AUY) slipped 0.3%
Silver mining shares rose were mostly lower in Friday trading.
- Coeur d’Alene Mines (NYSE:CDE) fell 1.2%.
- Hecla Mining (NYSE:HL) tumbled 4.2%.
- Pan American Silver (NASDAQ:PAAS) dipped 1.8%.
- Silver Wheaton (NYSE:SLW) rose 0.7%.
- Silver Standard Resources (NASDAQ:SSRI) declined 2.3%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.