Gold Rises, Silver Dips on Economic Worries

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Gold moved higher on Friday as investors sought security against the uncertain outcome of government efforts to stimulate economies worldwide.

Gold futures for December delivery rose to $1,778 on Friday, according to CME Group. Gold traded as high as $1,790 and as low as $1,769.10. Gold bullion closed in London at $1,776, according to BullionVault.

Silver futures headed lower, closing down at $34.638 per ounce. Friday’s high for silver was $35.26, while the low was $34.365.

Gold and silver funds were mixed in Friday trading.

  • The SPDR Gold Trust (NYSE:GLD) rose 0.3%.
  • The iShares Gold Trust (NYSE:IAU) also moved up 0.3%.
  • The iShares Silver Trust (NYSE:SLV) dipped 0.3%.

Gold and silver mining ETFs rose during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) gained 0.8%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) climbed 2%.
  • The Global X Silver Miners ETF (NYSE:SIL) increased 0.6%.

Gold mining shares were mixed during the day, with Barrick Gold (NYSE:ABX) rising the most.

  • Agnico-Eagle Mines (NYSE:AEM) edged up 0.2%
  • Barrick Gold moved higher by 0.9%.
  • Eldorado Gold (NYSE:EGO) dipped 0.8%.
  • Goldcorp (NYSE:GG) gained 1%.
  • Kinross Gold (NYSE:KGC) edged up 0.5%.
  • Newmont Mining (NYSE:NEM) moved lower 0.4%.
  • NovaGold Resources (NYSE:NG) slipped 0.6%.
  • Yamana Gold (NYSE:AUY) increased 1%

Silver mining shares gained in Friday trading.

  • Coeur d’Alene Mines (NYSE:CDE) rose 0.2%.
  • Hecla Mining (NYSE:HL) climbed 1.2%.
  • Pan American Silver (NASDAQ:PAAS) jumped 2.9%.
  • Silver Wheaton (NYSE:SLW) edged up 0.7%.
  • Silver Standard Resources (NASDAQ:SSRI) moved higher by 2.6%.

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


Article printed from InvestorPlace Media, https://investorplace.com/2012/09/gold-rises-silver-dips-on-economic-worries/.

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