by Christopher Freeburn | October 25, 2012 4:28 pm
Gold 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.
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.
Gold and silver mining ETFs advanced during the day.
Gold mining shares moved higher on Thursday, with Agnico-Eagle Mines (NYSE:AEM) rising the most.
Silver mining shares posted gains on Thursday.
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.
Source URL: http://investorplace.com/2012/10/gold-advances-on-japan-and-u-k-news/
Short URL: http://invstplc.com/1nrU4vw
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.