Gold Advances on Japan and U.K. News
by Christopher Freeburn | October 25, 2012 4:28 pm
[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.
- The SPDR Gold Trust (NYSE:GLD[4]) rose 0.7%.
- The iShares Gold Trust (NYSE:IAU[5]) also inched up 0.7%.
- The iShares Silver Trust (NYSE:SLV[6]) climbed 1.3%.
Gold and silver mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX[7]) jumped 3%
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[8]) gained 1.9%.
- The Global X Silver Miners ETF (NYSE:SIL[9]) rose 1.3%.
Gold mining shares moved higher on Thursday, with Agnico-Eagle Mines (NYSE:AEM[10]) rising the most.
- Agnico-Eagle Mines soared 9.1%.
- Barrick Gold (NYSE:ABX[11]) gained 2.7%.
- Eldorado Gold (NYSE:EGO[12]) climbed 2.5%.
- Goldcorp (NYSE:GG[13]) surged 6.8%.
- Kinross Gold (NYSE:KGC[14]) edged up 0.8%
- Newmont Mining (NYSE:NEM[15]) increased 1.9%.
- NovaGold Resources (NYSE:NG[16]) added 1.8%.
- Yamana Gold (NYSE:AUY[17]) rose 2.5
Silver mining shares posted gains on Thursday.
- Coeur d’Alene Mines (NYSE:CDE[18]) jumped 4.7%.
- Hecla Mining (NYSE:HL[19]) advanced 4%.
- Pan American Silver (NASDAQ:PAAS[20]) increased 2.3%.
- Silver Wheaton (NYSE:SLW[21]) rose 4.3%.
- Silver Standard Resources (NASDAQ:SSRI[22]) 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[23] contributed to this report.
- [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
- 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
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- 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
- BullionVault: http://www.bullionvault.com/
Source URL: https://investorplace.com/2012/10/gold-advances-on-japan-and-u-k-news/