Gold Edges Lower, Still Enjoys Best Quarter Since 2010

by Christopher Freeburn | September 28, 2012 5:14 pm

PreciousMetalsRecap Gold Edges Lower, Still Enjoys Best Quarter Since 2010Gold 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[1]. 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[2].

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.

Gold and silver mining ETFs also slipped during the day.

Gold mining shares mostly fell on Friday, with NovaGold Resources (AMEX:NG[9]) falling the hardest.

Silver mining shares rose were mostly lower in Friday trading.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[2] contributed to this report.

Endnotes:
  1. CME Group: http://www.cmegroup.com/
  2. BullionVault: http://www.bullionvault.com/
  3. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  4. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  5. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  6. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  7. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  8. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  9. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  10. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  11. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  12. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  13. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  14. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  15. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  16. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  17. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  18. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  19. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  20. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  21. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI

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