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.

  1. CME Group:
  2. BullionVault:
  3. GLD:
  4. IAU:
  5. SLV:
  6. GDX:
  7. GDXJ:
  8. SIL:
  9. NG:
  10. AEM:
  11. ABX:
  12. EGO:
  13. GG:
  14. KGC:
  15. NEM:
  16. AUY:
  17. CDE:
  18. HL:
  19. PAAS:
  20. SLW:
  21. SSRI:

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