Gold Hits Highest Prices Since February

Silver surges to levels it hasn't seen since March

   

PreciousMetalsRecap Gold Hits Highest Prices Since FebruaryGold and silver surged Friday, ending a relatively positive week on a stellar high. Gold rose to its highest price since February and silver reached its highest level since March, BullionVault reports.

Gold futures traded 2.1% higher Friday, with a final bid of $1,738 per ounce, according to CME Group data. Gold prices reached a high of $1,742 and a low of $1,688.80. Gold bullion finished Friday at $1,740 per ounce in London.

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Silver futures jumped 3% Friday, with a final bid of $33.64 per ounce. Friday’s high for silver reached $33.66, and the low was $32.

Gold and silver funds brought home big gains Friday.

  • The SPDR Gold Trust (NYSE:GLD) finished 2.2% higher.
  • The iShares Gold Trust (NYSE:IAU) also was 2.2% higher.
  • The iShares Silver Trust (NYSE:SLV) climbed 3.1%.

Gold and silver mining ETFs rose significantly Friday.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) rose 2.7%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) sprouted 3%.
  • The Global X Silver Miners ETF (NYSE:SIL) climbed 3.3%.

Gold mining shares reported healthy wins, with NovaGold Resources (AMEX:NG) leading the way with a 7% surge.

  • Agnico-Eagle Mines (NYSE:AEM) rose 2.3%.
  • Barrick Gold (NYSE:ABX) climbed 3%.
  • Eldorado Gold (NYSE:EGO) jumped 6.5%.
  • Goldcorp (NYSE:GG) finished 2% higher.
  • Kinross Gold (NYSE:KGC) lifted 5.8%
  • Newmont Mining (NYSE:NEM) finished 1.3% higher.
  • NovaGold Resources soared 7%
  • Yamana Gold (NYSE:AUY) rose 1.8%.

Silver mining shares also showed gains.

  • Coeur d’Alene Mines (NYSE:CDE) rose 3.1%.
  • Hecla Mining (NYSE:HL) climbed 5.2%.
  • Pan American Silver (NASDAQ:PAAS) jumped 2.5%.
  • Silver Wheaton (NYSE:SLW) was 1.8% higher.
  • Silver Standard Resources (NASDAQ:SSRI) ticked up 0.5%.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.


Article printed from InvestorPlace Media, http://investorplace.com/2012/09/gold-hits-highest-prices-since-february/.

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