Gold Edges Lower, Still Enjoys Best Quarter Since 2010
by Christopher Freeburn | September 28, 2012 5:14 pm
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[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.
- The SPDR Gold Trust (NYSE:GLD[3]) slipped 0.3%.
- The iShares Gold Trust (NYSE:IAU[4]) edged down 0.2%.
- The iShares Silver Trust (NYSE:SLV[5]) declined 0.3%.
Gold and silver mining ETFs also slipped during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX[6]) dipped 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[7]) fell 1%.
- The Global X Silver Miners ETF (NYSE:SIL[8]) slid 0.6%.
Gold mining shares mostly fell on Friday, with NovaGold Resources (AMEX:NG[9]) falling the hardest.
- Agnico-Eagle Mines (NYSE:AEM[10]) moved up 0.2%
- Barrick Gold (NYSE:ABX[11]) slipped 0.2%.
- Eldorado Gold (NYSE:EGO[12]) rose 0.7%.
- Goldcorp (NYSE:GG[13]) fell 1.2%.
- Kinross Gold (NYSE:KGC[14]) increased 0.7%.
- Newmont Mining (NYSE:NEM[15]) dropped 0.9%.
- NovaGold Resources moved down 1.4%.
- Yamana Gold (NYSE:AUY[16]) slipped 0.3%
Silver mining shares rose were mostly lower in Friday trading.
- Coeur d’Alene Mines (NYSE:CDE[17]) fell 1.2%.
- Hecla Mining (NYSE:HL[18]) tumbled 4.2%.
- Pan American Silver (NASDAQ:PAAS[19]) dipped 1.8%.
- Silver Wheaton (NYSE:SLW[20]) rose 0.7%.
- Silver Standard Resources (NASDAQ:SSRI[21]) declined 2.3%.
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.
- CME Group: http://www.cmegroup.com/
- BullionVault: http://www.bullionvault.com/
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
- GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
- SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
- GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
- SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
Source URL: https://investorplace.com/2012/09/gold-edges-lower-still-enjoys-best-quarter-since-2010/