Global Slowdown Worries Keep Gold Flat

by Christopher Freeburn | October 10, 2012 4:49 pm

Global Slowdown Worries Keep Gold Flat

PreciousMetalsRecap Global Slowdown Worries Keep Gold FlatGold remained mostly unchanged on Wednesday as fears of a global economic slowdown were reinforced by lowered outlooks from Alcoa (NYSE:AA[1]) and Chevron (NYSE:CVX[2]).

Gold futures for December delivery rose slightly to $1,765.10 on Wednesday, according to CME Group[3]. Gold traded as high as $1,770 and as low as $1,758.50. Gold bullion closed in London at $1,766, according to BullionVault[4].

Silver futures for December delivery also slipped, closing down at $33.11 per ounce. Wednesday’s high for silver was $34.19, while the low was $33.75.

Gold and silver funds were mixed in Wednesday trading.

Gold and silver mining ETFs were also mixed for the day.

Gold mining shares mostly edged higher on Wednesday, with Yamana Gold (NYSE:AUY[11]) posting the largest gain.

Silver mining shares closed higher in Wednesday trading.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[4] contributed to this report.

Endnotes:
  1. AA: http://studio-5.financialcontent.com/investplace/quote?Symbol=AA
  2. CVX: http://studio-5.financialcontent.com/investplace/quote?Symbol=CVX
  3. CME Group: http://www.cmegroup.com/
  4. BullionVault: http://www.bullionvault.com/
  5. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  6. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  7. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  10. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  11. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  12. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  13. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  14. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  15. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  16. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  17. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  18. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  19. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  20. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  21. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  22. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  23. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI

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