Gold Hits Highest Prices Since February

Silver surges to levels it hasn't seen since March

   

Gold Hits Highest Prices Since February

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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