Gold Rises, Silver Dips on Economic Worries
by Christopher Freeburn | September 21, 2012 5:00 pm
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[1]. 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[2].
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[3]) rose 0.3%.
- The iShares Gold Trust (NYSE:IAU[4]) also moved up 0.3%.
- The iShares Silver Trust (NYSE:SLV[5]) dipped 0.3%.
Gold and silver mining ETFs rose during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX[6]) gained 0.8%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[7]) climbed 2%.
- The Global X Silver Miners ETF (NYSE:SIL[8]) increased 0.6%.
Gold mining shares were mixed during the day, with Barrick Gold (NYSE:ABX[9]) rising the most.
- Agnico-Eagle Mines (NYSE:AEM[10]) edged up 0.2%
- Barrick Gold moved higher by 0.9%.
- Eldorado Gold (NYSE:EGO[11]) dipped 0.8%.
- Goldcorp (NYSE:GG[12]) gained 1%.
- Kinross Gold (NYSE:KGC[13]) edged up 0.5%.
- Newmont Mining (NYSE:NEM[14]) moved lower 0.4%.
- NovaGold Resources (NYSE:NG[15]) slipped 0.6%.
- Yamana Gold (NYSE:AUY[16]) increased 1%
Silver mining shares gained in Friday trading.
- Coeur d’Alene Mines (NYSE:CDE[17]) rose 0.2%.
- Hecla Mining (NYSE:HL[18]) climbed 1.2%.
- Pan American Silver (NASDAQ:PAAS[19]) jumped 2.9%.
- Silver Wheaton (NYSE:SLW[20]) edged up 0.7%.
- Silver Standard Resources (NASDAQ:SSRI[21]) 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[2] contributed to this report.
Endnotes:
- 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
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- 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
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- 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-rises-silver-dips-on-economic-worries/