Gold Advances on Japan and U.K. News

by Christopher Freeburn | October 25, 2012 4:28 pm

Gold Silver GLD IAU SLV[1]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[2]. 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[3].

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[10]) 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[23] contributed to this report.

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  3. BullionVault:
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  10. AEM:
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  22. SSRI:
  23. BullionVault:

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