Gold Consolidates Gains as Investors Await Jobs Data
by Christopher Freeburn | October 2, 2012 5:05 pm
[1]After hitting a one-year high yesterday, gold remained flat in Tuesday trading as investors braced themselves for the U.S. jobs report, due later this week.
Gold futures for December delivery fell to $1,775.60 on Tuesday, according to CME Group[2]. Gold traded as high as $1,786.60 and as low as $1,772.30. Gold bullion closed in London at $1,776, according to BullionVault[3].
Silver futures for December delivery also slipped, closing down at $34.67 per ounce. Tuesday’s high for silver was $35.12, while the low was $34.42.
Gold and silver funds edged lower in Tuesday trading.
- The SPDR Gold Trust (NYSE:GLD[4]) slipped 0.1%.
- The iShares Gold Trust (NYSE:IAU[5]) also fell 0.1%.
- The iShares Silver Trust (NYSE:SLV[6]) declined 0.5%.
Gold and silver mining ETFs also posted modest declines during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX[7]) dropped 0.6%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[8]) fell 1%.
- The Global X Silver Miners ETF (NYSE:SIL[9]) dipped 0.2%.
Gold mining shares mostly fell on Tuesday, with NovaGold Resources (AMEX:NG[10]) falling the hardest.
- Agnico-Eagle Mines (NYSE:AEM[11]) moved lower 0.5%
- Barrick Gold (NYSE:ABX[12]) slid 0.7%.
- Eldorado Gold (NYSE:EGO[13]) dipped 0.8%.
- Goldcorp (NYSE:GG[14]) fell 1.3%.
- Kinross Gold (NYSE:KGC[15]) rose 1.5%.
- Newmont Mining (NYSE:NEM[16]) edged down 0.1%.
- NovaGold Resources dropped 2.1%.
- Yamana Gold (NYSE:AUY[17]) declined 1.1%
Silver mining shares closed mostly down in Tuesday trading.
- Coeur d’Alene Mines (NYSE:CDE[18]) fell 2.4%.
- Hecla Mining (NYSE:HL[19]) slid 0.8%.
- Pan American Silver (NASDAQ:PAAS[20]) gained 0.6%.
- Silver Wheaton (NYSE:SLW[21]) declined 1.1%.
- Silver Standard Resources (NASDAQ:SSRI[22]) dropped 1.5%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[3] contributed to this report.
Endnotes:
- [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
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- 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
- 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
Source URL: https://investorplace.com/2012/10/gold-consolidates-gains-as-investors-await-jobs-data/