Gold Advances on Japan and U.K. News

Gold and silver ETFs gained, while mining stocks surged

   

PreciousMetalsRecap Gold Advances on Japan and U.K. NewsGold recovered from yesterday’s losses, moving back above $1,700 an ounce in Thursday trading, buoyed by signals that the Japan’s central bank will ease monetary policy and better-than-expected economic news from the U.K.

Gold futures for December delivery rose to $1,713 on Thursday, according to CME Group. Gold traded as high as $1,718.90 and as low as $1,702.30. Gold bullion closed in London at $1,716, according to BullionVault.

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3 Metals and Mining Stocks to Sell Now

Silver futures for December delivery also increased, closing up at $32.08 per ounce. Thursday’s high for silver was $32.26, while the low was $31.74.

Gold and silver funds moved higher in Thursday trading.

  • The SPDR Gold Trust (NYSE:GLD) rose 0.7%.
  • The iShares Gold Trust (NYSE:IAU) also inched up 0.7%.
  • The iShares Silver Trust (NYSE:SLV) climbed 1.3%.

Gold and silver mining ETFs advanced during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) jumped 3%
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) gained 1.9%.
  • The Global X Silver Miners ETF (NYSE:SIL) rose 1.3%.

Gold mining shares moved higher on Thursday, with Agnico-Eagle Mines (NYSE:AEM) rising the most.

  • Agnico-Eagle Mines soared 9.1%.
  • Barrick Gold (NYSE:ABX) gained 2.7%.
  • Eldorado Gold (NYSE:EGO) climbed 2.5%.
  • Goldcorp (NYSE:GG) surged 6.8%.
  • Kinross Gold (NYSE:KGC) edged up 0.8%
  • Newmont Mining (NYSE:NEM) increased 1.9%.
  • NovaGold Resources (NYSE:NG) added 1.8%.
  • Yamana Gold (NYSE:AUY) rose 2.5

Silver mining shares posted gains on Thursday.

  • Coeur d’Alene Mines (NYSE:CDE) jumped 4.7%.
  • Hecla Mining (NYSE:HL) advanced 4%.
  • Pan American Silver (NASDAQ:PAAS) increased 2.3%.
  • Silver Wheaton (NYSE:SLW) rose 4.3%.
  • Silver Standard Resources (NASDAQ:SSRI) moved up 3.1%.

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, http://investorplace.com/2012/10/gold-advances-on-japan-and-u-k-news/.

©2014 InvestorPlace Media, LLC

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